Wednesday, February 28, 2007

Chinese Stocks better overnight

The Chinese Stock Market rebounded last night as apparent bargin humters entered the market. The Shanghai index closed up almost 4% last night. Is this the end? I am not sure. GDP numbers were just out and were basically as expected. Fed Fund futures are now increasing the probabilty of a rate decrease in the 2-6 month region. I think that overall it was a big move yesterday but remember, what type of retracements have we had over the past 12-24 months. No thing really major. I would not enter into stocks at this time as we will probably have better buying opportunites in the days ahead. To many "talking heads" saying that this was not a big deal. Another weak Chicago Purchasing Manager at 47.9 (expected 50.0) will certaimly not help.

Good Luck and if you are looking for me I will be under my desk.




Post a Comment

Subscribe to Post Comments [Atom]

<< Home