May

9

 The news pundits are flummoxed by the up market despite their dribble of bad news. They loved to say market down on "bad news" with the knowing nod that their news caused the market to go down. But now they look silly saying market way up day after day on our continuing dreary bad news dribble. Like the End Of Worldists, they can deny reality and say, "Oh, it's because the news is less bad, that it's going up." Doubtful.

Something else is at work.

However even the quants are having a tough go of it, even as data turn bearish, the market goes up, and keeps going up.

James Lackey writes:

I haven't seen a real number on the table here there or anywhere in so long I feel like a kid at a bucket shop buying on bad news because, "It goes up on bad news" but what are you gonna do. No one alive has seen what happened last year. We went from "it's like 1933" to 1973, now 2003 and we are "never pulling back again" "generational lows"… in the blogs in the only number I can find lately these things usually last just over 40 trading days… which is a good biblical number, after the 666 lows… and similar around the campfire handed down through the generation lessons. Question: what stocks are up the most? "Who cares? It's the junk and everything is up" Autos..? Are you kidding ? Well, the autos left standing of course.

Oh the love for Fiat and Ferrari, they are cool dudes. However Chrysler, Opel what else are they trying to take over for free? I love them, but I dunno who in the world is going to lend money to them to run their business. Perhaps the UAW can sign up some laid off Wall Street bankers or a venture capital man. ha.


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