The stealth rally

Wow, since the Martin Luther King Day meltdown overseas that didn't quite happen here, we've had quite a rally. The S&P has regained more than half its loss and is now down only 4.06 percent on the year.
The Five for 2008 portfolio is now up 6.31 percent YTD, led by Capstead Mortgage, up 21 percent. With 125 basis points of rate cuts at its back, analysts are plugging numbers into their spreadsheets and coming up with estimaes of $2 in dividends for 2008. So it has some room to run to $20.
KSK is also recovering nicely, and only PEP is losing, apparently because of high commodities costs. PEP reports next week and we should find out how much of a dog it is.