I beg to differ, see extract from Dr. Chan in answer to your point "it's simple logic..but sometimes we get too caught up with the "good economic news" that we forget that the economy is in bad shape" :

Stock markets always behave ahead of economic data.

Before economy recovery is officially acclaimed, share prices are mostly in “buy” category.

When recovery has been officially acclaimed, share prices may have skewed to the high side.

Read newsletter below to remind ourselves about "musical chairs" :

September 09 newsletter - Dr YC Chan  

曾渊沧@股友通讯录
MICA (P) 133/09/2008
九月份

Dear Friends

You may mark the August stock market being volatile, or boring.

Volatile because there were many days in August the ups and downs
of the market index from one day to another could add up to 2% difference.

The first day the market could go up by 2%, only to see it came down by 2% the next day
and went up by 2% again on the third day.

Punters’ sentiments kept changing amidst joy and anxiety.

They lost money everyday because they misjudged the market trend.

The worst tactics is to chase stocks when market is rising and cut loss when
it is coming down.

The market was boring because notwithstanding its volatility,
the market position remained the same as if nothing had happened.

Patience plays a very important part in stock investment.

Once you are sure it is a bull market, you should have the patience to hold
good quality stocks and ignore the daily price fluctuations.

Sideline yourself and become an observer; sell your stocks only when you think
the market fundamentals have altered.

This is the way to make big money.

Immersing in the daily market fluctuations, you may make several mistakes and
lose confidence and more mistakes followed.

There are many people who lose money in a bull market.

These are short term players who make wrong moves more often than the right moves.

What are the good quality stocks?

How to select them?

As the world keeps on changing; there is no such thing as a permanent good quality

The moment the stock market becomes bubbles, the value of good quality stocks disappears.

To be value conscious is the best way to select good quality stocks.

When the prices of some shares have gone up many folds over a short span of one
their value would naturally be discounted.

At present mid term bull market, under valued shares have become fewer and fewer.

The mid term bull market still has growth potential.

Unless there are adverse factors affecting the particular industry and corporate stocks
you are holding, you should not sell your holdings hastily.

Stock markets always behave ahead of economic data.

Therefore people who make big money are those who dare to venture into the markets facing collapse,  as most of the shares would then be undervalued, some shares may price only 10% of their real worth.

Beside China, the global economy is not recovering, although signs of its recovery are there, probably before the end of this year.

Before economy recovery is officially acclaimed, share prices are mostly in “buy” category.

When recovery has been officially acclaimed, share prices may have skewed to the high side.

To enter the market for short term punting by then would be analogy to playing the last round of music chair:  that if you do not know how to unload, you would not have a chair to sit on it.

This is how uni asia looks on the chart: