Forget the Fundamentals

I took a long walk today in large part because I wanted to get away from the computer after the horrible jobs report.  I was sure the market would tank.  My belief was reinforced in the number of vacant stores I came upon while walking from Barrow Street up to Macy's on 34th street.  I never remember this before in Manhattan and I really got the feel that there was indeed a deep recession.  Accordingly I dreaded my return home and the computer that was sure to see a huge stock market decline.  Instead, I saw the market was up and as the afternoon wore on a real rally was underway.  Go figure? All I can say is that today's action had no roots in reality.  The economic fundamentals suck and are going to get worse. 

Leave a Reply

Your email address will not be published. Required fields are marked *