205. Ready to Buy Again?

On the 21st I mentioned that for 6-7 market-days we will ride the bottom of the wave forming to take us up again. Today is day 6, tomorrow is day 7. Let's all pitch in and drive my stocks up again. So far, about 78% of the businesses announcing earnings have beat the expectations. However, the scare that dropped us was China's intervention into their banks -- raising reserve requirements. I look at this as a positive move -- it was supposedly done to discourage speculation bubbles by restricting loans to speculators and controlling economic expansion in more realistic terms rather than artificial, speculative expansion. Hmmm -- something we could have done before we got into the financial crisis. I believe China will still grow consistently and at rates exceeding expectations. Thus, this tells me to buy the commodities that are now down. But, how about our economy. Did the State of the Union speech change anybody's mind about 2010? Some encouraging words re energy emphasis -- support nuclear and offshore drilling. Surely these will create jobs. Throw in there the latest gas drilling opportunities in Pennsylvania. If only words would translate into actions. Can we believe our president this time? Or will we continue to doddle in Congress and delay these important opportunities? Negatives in O's speech were again his constant finger-pointing of problems he not only couldn't resolve, but took either the wrong action or no action to resolve. Blame Bush, blame the Supreme Court. If I ignore his problem of not facing the facts and acknowledging his failures and, instead, focus on the opportunities he did present, I see a brighter future. Of course the continuation of the present Health Care Bill is NOT the right decision, but education focus seems right. So, I am going to go with my gut for another 3 months and ride the wave up. I already anted up for this wave. How about you. Get your piece before the typical summer doldrums.