TAIEX Jumps 5.6%

A pretty good day for the 'street' in Taiwan. It sure must have been nice for Ma's administration to conveniently piggy-back the FRE/FNM news with their own "vows" to help the slumping market. I hope investors don't see this as another miracle that supposedly Ma has helped conduct, rather, a small bump in what will be another leg down. Coming over the AP Wire, and I quote:

TAIPEI, Taiwan (AP) - Taiwan shares soared Monday as investors took cue from a planned government package to stimulate the sagging economy.

and then secondly, they mention the real cause:

... News of the bailout of U.S. mortgage giants Freddie Mac and Fannie Mae also boosted sentiment.

Perhaps a bounce would have been seen regardless of the FRE/FNM bailout news, but surely not worthy of a 5.6% bounce. I'm going to have to give it to Ma's administration here, they have wonderfully played the timing game; they have perfected it to the point where it might just be impossible for Ma to ever be criticized and hated as much as Chen, Shui-bian. Even as Ma walks the unification road, the country is too caught up in the Chen, Shui-bian fiasco to even notice it. [Note: No support for Chen's acts here; just pointing out the coincidental timing of everything.]

Anyways, as far as the markets go... I still believe the worse has yet to be seen, and when the bottom is in, you will know it. None of this wishy-washy, maybe yes, maybe no, maybe so of where the market standing is. Capitulation. You'll know it when you see it, and until then, well... just don't get too optimistic.