May 24, 2006

If I was to comment on the markets...

The trader in me says last night we bottomed in the futures. They were extremely weak a couple hours after the close.

I am not trading much off my gut feel here but it would not surprise me to see a choppy but nice rally for a week or so.

Bra's are working. No bear market in bra's. Just ask Limited Brands (LTD) whose stock has hit all-time highs as the markets have corrected.

Shipping may be topping for now. I love FedEx but am watching it closely.

Lot's of broken emerging markets in this selloff. China may not work like others think. Russia will never work, despite the fact that Templeton's Russia fund has worked bigtime and India looks like it will need time to get legs again.

Good time to do other work.

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