Concern over PIIGS

Last week ended on a very nervous note for equity markets as the concerns over the so called PIIGS ( Portugal , Italy , Ireland , Greece and Spain) economies out weighed the ecomonic news out the US on their jobs data which showed a slight improvement and hence should be market positive . This week we have retail sales out in the US expected to show a pick up in sales - should be market positive . Domestically we have retail sales data but that isn't till the end of the week. Hence lead will come from overseas markets, and at present, data suggests dips are there to be bought and don't get paniced by an increase in short term volatility. Longer term momentum still positive and this should be translated into higher prices.