575k initial jobless claims - whats the bullish spin on that? Cuz Im sure there is one - Kudlow, Cramer, greater cast of CNBC, anyone?? The SPUZ which had been trading higher on "market strength in Asia" are lower by 2.5 points - make that 1.5 now - man the dip buyers are eager this morning. Sears whiffed big this morning - this has no impact except on the numerous hedge funds that are short this stock and the numerous value funds who believe that there is still a real estate story here - as far as an indication of economic strength or weakness I ask ya when was the last time you were in a sears?
Markets are extremely thin right now and volume numbers are going down everyday - that heightens the possibilty of exaggerated moves - keep your wits about you.
If you were gonna buy a basketball hoop would you buy it at Dicks or Sports Authority?
JB
Subscribe to:
Post Comments (Atom)
I am following this blog day-by-day.
ReplyDeleteIt's good stuff. More people should know about it.
Keep it coming.
falco peregrino
Grazi
ReplyDeleteJB,
ReplyDeleteYou are rather subdued in your blog entries today. My guess is that you are dumbfounded (no -- you've obviously been around the block too many times for that -- so let's say, "watching in disbelief") as the market has rallied today despite a really crummy jobs report. Aren't we told time and again that the consumer is the key to the recovery? 500,000+ job losses does not point to a rip-roaring recovery. Oh, I forgot -- employment is a lagging indicator. But, on the other hand there might be quite a lag in getting 8 million unemployed people back to work even when the number of losses goes down a bit.
The Alice in Wonderland crowd has the upper hand. They go right through the mirror even if there is blue smoke all over the place. As my sagacious mother used to say or quote, "Hope springs eternal in the breast of man".
Can the be any other expalanation? Yes, helium is being pumped into the market on a regualr basis. No, change that to hydrogen. It's more bouyant. But remember the Hindenburg!
falco pregrino
We lost very little today - which was a miracle.
ReplyDelete