Big news week

This week will feature an abundant amount of economic numbers that will impact the trend of the stock market.  The horrible housing situation will be front and center and I don’t think these numbers will offer much encouragement to the bulls.  The housing sector remains stuck in a terrible recession and the negative ripple effect on the macro-economy cannot be denied.  To be sure, some of the numbers this week may prove better than expected, but don’t count on that happening. Still, the valuations accorded many stocks are very reasonable and I point to the action late on Friday when lots of bargain hunters came in at the last moment.  There is lots of money waiting to enter the market so while the economy is teetering on the verge of recession and credit worries persist I still don’t believe being short is a wise strategy at this point. 

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