From planting myself in several malls in Texas to stopping by dozens of car dealerships as well, I couldn't help but notice several key bullish signs:
1. Not only were there tons of shoppers at the malls in Houston, San Antonio and Austin, but LOTS of shoppers holding shopping bags. It's great to see higher volumes of shoppers, but it's important to see people spending $$$$.
2. Car dealerships: PACKED. Yes, Cash For Clunkers expires tonight, but lots of cowboys were taking in their old Ford pickups and upgrading--or simply recycling--for a new model. It was great to see one dealership in San Antonio actually have more cars from shoppers in its lots, than new cars to be sold.
As for the markets, Asian markets were on fire overnight, up almost 2.5% in the aggregate. Domestic markets are pointing to a positive open, but no economic releases today. Check in later for a full analysis about this week's data schedule.
Todd M. Schoenberger, Managing Director
LandColt Trading, Inc.