Yesterday was a great day for investors. The DJIA cleared the 14,000 mark for the first time, signalling a green light to global markets for the next day. And here it is:

Tuesday, October 02, 2007
HK shares set life high as subprime worries ease
HONG KONG, Oct 2 (Reuters) - Hong Kong blue chips jumped 3.9 percent on Tuesday and China plays leapt 5.6 percent amid a broad-based rally, as investors cheered a record high on Wall Street on hopes that the fallout from the U.S. subprime lending sector had bottomed. "It's the world thinking that subprime is over," said Dale Tsang, managing director at Imperial Dragon Asset Management. "People are jumping in to buy and catch up on their performance." Trading volume was unprecedented, eclipsing Friday's record, as buying was frantic on expectations of greater fund inflows from the mainland, as more global Chinese stock funds were being launched under the country's Qualified Domestic Institutional Investor (QDII) scheme. The benchmark Hang Seng Index <.HSI> cleared the 28,000-mark for the first time to end up 1,057.28 points at 28,199.75. Its day high was 28,256.80, marking its eighth consecutive record. The China Enterprises index of mainland H shares <.HSCE>, or Hong Kong-listed shares in mainland companies, rose 955.93 points to close at 17,973.87, having earlier crossed the 18,000 threshold for the first time.

Besides a strong overnight Asia rally, I said this: today, Tue, will be an even better day for China stock investors. I said: "Mark my words" http://www.chinavestor.com/blog/PermaLink,guid,26814bb0-d5a9-4a82-90d5-29a86f50c6da.aspx

And here we go: U.S. stock futures rose Tuesday as investors appeared poised to extend a rally that sent the Dow Jones industrial average back above 14,000 and to a record close. Briefing.com morning reading - 08:31 am : S&P futures vs fair value: +2.8. Nasdaq futures vs fair value: +2.8.  Futures are higher on momentum from yesterday.  It is an extremely quiet news day so far with no major corporate news.  September auto sales will come out later this afternoon. 

My argument is this: as long as the U.S. doesn't screw up too bad, China stocks will be on FIRE. A script from today's Pre-market report shows the strength of Hong Kong trading today: quality stocks like CHALCO (ACH), China Telecom (CHA), China Life Insurance (LFC) etc were on fire!

Prepare for another AWESOME DAY. Cheers.

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