SO is there a recession or not?

I think there are some black clouds of recession looming but I also think the US will probably manage to avoid 2 negative quarters especially in a presidential year. Nevertheless, most traders are facing another week of a "sea of red". Newspaper articles keep talking about the sub prime effect and others say Japan is facing a recession because it exports nearly 50% of it's products to the USA.
Mega see's a downturn as a time of opportunity. Watch stocks with high volumes and those rising in the downturn. If you are willing to take modest gains -sell half at 25% profit - then you can still make money. There is a lot of fear and downtalk, but remember
talking down the share market or the economy, does benefit some people.
Like the Banks for instance. They can then put up interest rates.
You might like to visit my other blog called http://richkidspoorkids.blogspot.com
for more palin english insights.
I found this article and it seems pertinent. it's about whether there is a recession and investing.http://switzer.businesscatalyst.com/web_pages/articles_and_tools/financial_planning_and_superannuation/times_like_these.html