Traders can be trigger happy and so can investors at times.
The new US Treasury Secretary delivered only words and little details today concerning the stimulus plan. Traders and investors took note and ran. Unfortunately, the plan was much of the same rhetoric as Geithner’s predecessor which gave investors a reason to run since their expectations had been levied by numerous reports that were leaked to the press prior to show time.
Admittedly, we were disappointed given President Obama’s strong words and priorities from last night; but oddly enough, we see good signs coming from a distant trading partner, China.
It appears China may be making a come back. More on this at a later time. Again, Patience. JK