The China news over the weekend should benefit some companies going forward, and there is one thing the BEARS keep forgetting about, the entire world has instant communications, and as we are witnessing, at anytime another part of the world can do something to spur the economy and markets.
A few weeks ago it was europe with a bailout plan of almost one trillion dollars, this past weekend it was China. The Bears might make a point of having it there way with the reality that things are hard all over. But it seems the world talks to one another, and boom something like this happens, and like me, its Monday morning and I am not sure how to react, or who will benefit from this new stimulus.
I do believe this rally will fade off this morning, but many shorts are covering at this time. Whitney might be right about housing, I am watching different regions for real estate prices, and they do look bleak. The home is what the middle class felt safe in, and now it is beginning to feel like an anchor. Prices have come down so much, but compared to prices of 2000, they still have a ways to go. Talk about buying on the cheap, these next few years will allow companies to prosper once again, as more homeowners throw in the towel and get foreclosed upon.
Will watch the morning, but I would sell this morning's pop, and sit back and watch. As an example good old Wal-Mart probably will get hurt by this China news, buying in China just became more expensive, maybe Wal-Mart will buy more in America.
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