Wednesday, February 24, 2010

What Do You Blog About?

What do you blog about these days? How the market basically didn't go down after a massive drop in consumer sentiment index to lows not seen since like 1983? (some people are saying this was a fluke but would like to point out it matches what the ABC Consumer Confidence Index has been saying for weeks). Maybe you can blog about how the U.S. markets went up 1% after the a plunge in new home sales. Fewest new home sales since data was collected in 1961. Oh yeah, economists forecasted sales to increase. Maybe I can blog about what is going on in Europe as Greece implodes within, banking assets are fleeing the country, and Europe still doesn't have a plan?

Tomorrow you have jobless claims and durable good orders. Both are fairly important and I have no idea what will come from them.

Friday is the revised GDP report and existing home sales. I would expect the GDP report to get a nasty revision down and existing home sales to be a miss.

Markets are in denial of a second double dip recession and are ignoring the bad news and moving up on any good news which is coming fewer and fewer in between. Volume is anemic as no wants to sell and no wants to buy. If the news continues to be bad there will be one piece of news that finally pushes the markets over the edge.

This market is very frustrating as one tries just to survive when reality hits the market.

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