Dow Jones Rallies ... | Will AUS Follow? | Who Cares About China’s Economy When Stocks Are Rising This Much |

Good Morning, So once again, US stocks advance, as banks and insurers rose and investors speculated Greece will reach a deal with its creditors. But US stocks are still near record highs and does anyone actually care about the Australian market? Yesterday, I attended a very interesting lunch discussion about India… Did you know that the interest rate in India is 7.2% and AAA bonds (i.e. government backed) are returning up to 10% in income? Infrastructure spending in India is up strongly and GDP is expected to hit 8.00% over the next six months… In China, there is a huge “disparity” between poor fundamentals (i.e. GDP falling to 2009 lows, Industrial Production and Retail Sales figures are also very weak), however, their stock market is up a “whopping” 114% in 12 months….. Chinese stocks are now trading at over 70x P/E… there soon will be an opportunity to “short” this bubble… but not right now… The ADP survey showed that jobs in the US are once again picking up… SPI is up 6 points... hopefully we can close positive today