Dow Posts 2nd Biggest Gain of Year; UMH and Patrick Rise as Well

In the biggest gain since Jan. 3 when the Dow rose 180 points, CNNMoney tells the Dow Jones Industrial Average moved up 160.90 points, + 1.23 percent, to close at 13,241.63, as Fed Chairman Ben Bernanke indicated to a group of economists the interest rate will remain low for a long time. Based on his comments, investors believe the Fed will take action if the economy starts to nosedive again. The Nasdaq moved up +1.78 percent to close at 3,122.57, while the S&P gained 1.39 percent to finish at 1,416.51. The Yahoo! Finance Manufactured Housing Composite rose +0.59 percent to close at 1,024.30. Most all the housing stocks we track closed up or even, with UMH Properties leading the way, gaining 4.79 percent, +0.49, to close at 10.73, and Patrick Industries was close behind, moving up 4.31 percent, +0.46, to end the day’s trading at 11.13. Third Avenue Value Fund was the only stock we track that closed down, dropping -0.74%, -0.34, to end at 45.53, but it based on Friday’s trading (3-23). Affiliated Managers Group 113.22 +2.45 (+2.21%). Cavco 46.53 +0.12 (+0.26). Clayton Homes, Vanderbilt Mortgage and Finance, as well as MH home-building, lending and other housing suppliers parent company Berkshire Hathaway 123,500 +1,330.00 (+1.09%). Champion, Liberty Homes, Deer Valley and Palm Harbor all remained unchanged. Drew Industries 26.91 +0.60 (+2.28%). Equity Lifestyle Properties 68.65 +0.60 (+0.88%). Louisiana Pacific Corp. 9.81 +0.41 (+4.36%). Nobility Homes was unchanged at 8.27. Skyline Corp. 7.38 +0.20 (+2.79%). Sun Communities 43.24 +0.31 (+0.72%). Universal Forest Products 34.98 +1.06 (+3.13%).

(Graphic credit: CNNMoney and RealTick)

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