Bad News Is Good News?

Several reports were out this morning. Among them that housing starts were twice as bad as the permits. Some view that as good news and a cleansing of the inventory. The dollar made a new historic low against the Euro. Some see that as selling more export goods out of the United States helping some business get an extra boost. Financial reports were bad as usual but in-line with expectation which is good. Potash prices are up which is good news for (POT) and copper prices are up and good for companies such as (FCX) and (PCU).

China bubble? China's GDP was reported last night as being up 10.6% which is higher than expected. Last week, it was said that even with China's problems, its growth would still manage 9%.

Intel's (INTC) positive earnings were up 7.1% boosting the tech sector. Among them (AAPL), (DELL), (EBAY).

Oil hit a new high of $114.53 a barrel. Gasoline and heating oil was on a record run.