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China's August Output Rises, Stock Market Opens Higher - Mike Swanson (09/11/09)

Submitted by Mike Swanson on Fri, 2009-09-11 10:07.

Today AP reported that Chinese recovery gained ground as its industrial production rose 12.3% from a year earlier, following a July 10.8% increase.

This news helped to fuel an overnight rally in China stocks to set the stage for a positive opening on Wall Street. Stocks are currently trading at a high for the year off of the opening bell while gold piles on once again through the 1000 an ounce level, this time probably for good.

The market is trading up so much that when you are in you feel like an insider. You may even wonder why is insider trading illegal? when you are making money despite the insiders.

If you have a 401K the last thing you want to do is sell now. I know a lot of people who did that because of the bear market of last year. But do not sell out now and get in a spot where you have to worry about calculating 401k early withdrawal penalties.

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