Dow closes up 230..Crazy Bulls Ride…Psycho Market Qu’est-ce Que C’est??
DOW closes up 230 to 8730
S & P up 25 to 943 (well above the 200 day moving avg)
NAS up 54 to 1828
Psycho market qu’est que c’est..bah bah bahhh crazy sheeples run run run awayyyyy
consumer spending is down
job losses are up
housing continues to decelerate
and they are rallying, m’kay….of course these are the traders who drove GM UP today up .08 to .83 cents a share, each of which is worth zero as of the bankruptcy filing today…
Treasurys popped back up to 3.70% that can kill the first leg up of the double dip, what will the Fed do?
and in other crappy economic news Oil is continuing to rally up 1.84 today to 68.15!! of course higher gas follows sharply, hell it never really dropped as much as it should have, and this hidden tax on consumers will lead to lower demand and lower consumer spending in other areas, as the millions of Americans who have to drive to work , well drive to frakkin work and don’t buy some Chinese export at Walmart which is of course why the export estimates coming out fo China are frakkin ridiculous and not IMO a valid reason to rally..they are based on American demand that is heretofore non existent according to the retail sales data….
it was after all just this morning that April consumer Spending data showed a decline of 0.1% and a jump in the savings rate to 5.7% unheard of in America for lo these many moons..the political class as Rasmussen now calls them may be all hunkey dorey with TOTUS takeovers and spending extravaganzas but Americans are socking away their cash and waiting for the other shoe to drop….
but hey why quibble with silly facts when there is a rally underway?! maroons…
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