today what a day assembling the pc desktop table and exposed to all my stupidity. according to the brochure it should take only 30 min. it took me 4 hours to finish the work. trial and error approach since i could not figure out the drawings of the instructions. and here the waste of time .

back to markets :
main points, stock market hesitant , china corrects 5% , bulls put it in the right prospective given the exorbitant surge of the past 12 months but a lot of investors are cautious and don't rule out a correction. 2dq results start in a week. a lot of bullishness on oil stocks ( see total and rd), mechel keeps climbing following its excellent results that highlight its mining value but who has the highest target ? in france a lot of interest for carrefour ( domestic demand up ? ) but also eads ( global orders , renewal of airplane fleet, dubai investment?). Some interesting reports from UBS on Greek Banks ( Piraeus Bank) , Alphabank in Russia, an upgrade of Turkey by CS. Africa is in the radar screen, to play with South African Stocks and Multinationals. The name that stands out is Alstom ! China Mengnium Dairy skyrocketing , because of the milk price ? Everybody talking about food prices ( Cosan in Brasil) , water stocks . Pharma in crisis given the tight regulatory environment , credit rating worsening ! What about biotech , f.ex. Intercell, or medical technology , Medtronic or Phonak, not to mention the report om nanotechnology and its synergies with pharma? INTC always to be watched , technically interesting as the whole tech sector , Infineon benefiting from IPOD sales ?

Bond Yields , analysts forecasting a rate cut , even Dr Doom doing it , soft landing scenario taking over ? Lehman Brother strategist recommending Brasilioan Bonds given the 3% inflation rate.

Last but not least currencies , what to do with the weak dollar ? Oil , above $70 stopping the markets bulls. CMOs are away, private equity helps: Blackston is employing the cash it raised from its public listing to buy the hotel chain Hilton and REIT are in demand. No wonder rich are more sophisticated investors and they buy property, tangible assets. at the end of the day it is about how much land you control like in the good old times. So what about Swiss Real Estate ? PSP ( commercial surfaces not restrained by Lex Furgler ) and Allreal + Mobimo constrained but legislation will evolve.