Hedge Fund Manager's Notebook: Why Hummers Are Greener Than Hybrids, and Tech & Homebuilders May Be a Buy

1) Hurricane Gustav wavered, so crude fell $6 and natural gas plunged a mind blowing 10%, or 80 cents. Other commodities collapsed across the board and stocks took off.

2) Q2 GDP came in at a blistering 3.2%, almost double some forecasts. While the stimulus checks provided a minor assist, it was really all about the enormous boost being given the economy by international trade. Unfortunately, if you don’t sell routers in India, ship food or commodities to China, or sell crude products anywhere you were toast. When this market does recover there is no doubt it will be lead by companies with half or more of their income from overseas. Think big tech: Microsoft (MSFT), Intel (INTC), Oracle (ORCL), Hewlett Packard (HP), and Cisco (CSCO), or just buy a technology ETF (XLK).