Are you looking forward to getting your rebate check from the government? Have you decided how you are going to spend it? That’s what the government wants you and your fellow consumers to do with that money. They think it will help revive the economy.

Let me be the voice of reason here.

We are seeing record-high home foreclosures, credit card delinquencies, and auto loan delinquencies. Over the long run, having people pay down their debt or build their savings will benefit the overall economy more than having them rush out to spend. Federal officials are reckless to encourage such behavior. And you don’t have to listen to them.

Use your economic stimulus rebate check to pay down credit. If you don’t have any outstanding debt, good for you. Put the money into savings or invest it.

[Ed. Note: Rick Pendergraft is a professional trader and market analyst. In Rick’s new investment service, he reveals how you can make hundreds – even thousands – of dollars just by playing a simple game of “guess the pattern.”]

Inspired by his high school economics teacher, Rick Pendergraft fell in love with the markets at an early age. He entered his first investing competition at 17, and opened his first brokerage account before he finished college. At the age of 23, on the third options trade he had ever placed, Rick turned $1,800 into $22,000 in less than a week, when the company he bought became the target of a takeover. He admits it was a stroke of luck, but it was a memorable education as to the leverage that options can provide.
After a ten year career in banking, Rick decided to pursue trading full-time. To get his foot in the door, he started out in the sales department at Schaeffer’s Investment Research. It was not long before his talent was recognized and he was invited to apprentice under Bernie Schaeffer, one of the top options traders in the world. Rick thrived in his new position and twice received the award for “Top Trader.”Rick has developed a loyal following of readers who are grateful for his timely warnings and profitable advice. He is widely recognized as a market expert and has been frequently quoted by Reuters, BusinessWeek, Forbes, USA Today, the New York Times, and the Washington Post. Rick’s primary focus is on identifying short and intermediate term rising and falling trends in the major market sectors. His analysis is based on technical factors along with indicators of market sentimentRick lives near Delray Beach, FL with his wife and three children.