Camarda Financial Advisors, LLC

FLEMING ISLAND, FL - Camarda Financial Advisors, Inc., a Southeast regional fee-only investments manager, today publicly released a new Chairman’s Communiqué:

The recent market sell off – probing the upper reaches of the 9000's on the Dow on Friday and finally settling there at today’s close – has raised the hackles and the fears of investors across the nation. Bearish pundits claim we are seeing the second leg down they've predicted for months, and even the optimists wonder if the majestic rally begun in 2009 can be sustained.

The 8% drop in stock prices since January 19th has been widely blamed on the "discovery" of continuing economic woes (what a surprise!) in three of Euroland's weaker countries, Spain, Portugal, and especially Greece, inciting investor alarm around the globe, and sparking a new rally in the U.S. dollar and U.S. Government bonds as the sheep furtively flocked to safety yet again. All this heaped on the off-the-meter angst in DC, with a chastised and only-shakily confirmed Bernake and the continued drumbeat of tighter financial regulation and higher taxes, both widely (I think rightly) feared to loom so early as to choke the life from our magnificent green shoots of economic recovery.

The cornucopia of good (and hugely more important than the prattle above) economic news – on jobs, housing, corporate sales profitability, and so on – was widely ignored by investors. You would think hearing that two-thirds of companies beat their Q4 revenue forecasts – and 80% beat their earnings forecasts – would have driven prices higher.

Go figure...make more than investors had baked into stock values, and prices drop. It's like saying "I'll pay $10 if I think you'll make $1, but only $8 if I think you'll make $20!" Which just again goes to show us that near-term market prices are not rational. The data are a good bit better than they were several months ago, and this should eventually be reflected by the market. Right now, I remain convinced we are enduring a healthy correction, and building a stronger base for higher thrusts ahead.

It has gotten to be a very good time to buy again, I think, with all this fear flying about, in the face of so much good news.

- - -

These communications are written for Camarda clients and those on its priority email list, then released to the public after priority dissemination.

Those wishing to be added to the priority list may do so by signing up for our email newsletter.

Camarda Financial utilizes the trademarked ISIS® investment process, invented by Chairman Jeff Camarda, CFP, ChFC, CLU, CFA, CFS, BCM, and is based in Jacksonville, Florida.

Important Information – Past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment strategy or product made reference to directly or indirectly in the communique will be profitable, equal any corresponding indicated historical performance level(s), or be suitable for your portfolio. Due to various factors, including changing market conditions, the content may no longer be reflective of current opinions or position. Moreover, you should not assume that any discussion or information contained in this communique serves as the receipt of, or as a substitute for, personalized investment advice from Camarda Financial Advisors, Inc. (“Camarda”).

Clients are reminded to contact Camarda if there are any changes in your financial situation or investment objectives, or if you wish to impose, add or modify any reasonable restrictions to our investment management services. A copy of our current written disclosure statement discussing our advisory services and fees continues to remain available for your review upon request. To the extent that a reader has any questions regarding the applicability of any specific issues discussed above to his/her individual situation, he/she is encouraged to consult with a professional advisor of his/her choosing.