Housing, deflation, bonds, and the dollar are all inextricably linked, if you connect the dots between numerous studies which have come out in the past few weeks. We'll do that and more as we explore the implications of even a small housing bubble and what it will mean to you.

I frequently get email from readers asking whether they should buy or sell a house in a particular area. The short answer is, "I don't know." Today I am going to give you the tools which will help you answer this question for yourself. Plus, the analysis will have implications for the rest of your investment portfolio.

What would real profits be for NASDAQ companies if options were expensed? What would the stock price be for the biggest companies in America if investors started to price them based upon correct earnings figures? I give you the numbers in today's E-letter, plus we look at why the dollar is rallying, the economy and more. It should all make for interesting reading.

This week I want to welcome 500 or so new readers, many at the suggestion of my old friend and sushi partner, Tony Sagami. Lately we have been getting a lot of referrals from readers and other investment writers, and I am grateful for the growth. I do spend a lot of time researching and writing this letter. It is nice to have someone recommend my writing to a friend or colleague.

Is the stock market the Little Engine That Could? Have I blown it when I suggested you get out a few weeks ago as the Dow rises another 7% and the NASDAQ is up 10% since then and 30% since the recent bottom? Am I early or am I simply wrong? Is there something really different this time?