Who will BAIL the cat? Really Fed up now!!

Fed has rejected the bail out package and Big 2 automakers (Big cats) in US are in trouble. Sell off in auto stocks seen in all the markets including asian markets. Theory says 'sell on news and buy on rumour'. Now as the news is out we are seeing the sell off. However it makes no sense in asian markets. Next auto major will be found from asian markets and not the european markets. Not even a penny to guess that, yes it will probably be the Japanese major. Given this the takeover opprotunities in western world will be more for indian companies that are cash rich as well as japanese and chinese companies. That means in short term this will throw an opportunity to build a portfolio in this contrarian sector at lower levels and benefits will come in the long run. Its probably not a automatic but manual gear box one needs to use and buy smaller quantities at every correction without accelerating much.

PS as always consult your advisor before taking any investment decision. I will post more on the subject very soon.  These are my prel thoughts.