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Friday, October 5, 2007

Why listen to the Market when it is talking gibberish?

Steve Conover at the Skeptical Optimist displays the vagaries of jobs numbers today and wonders what the Market will make of it.

Any Market response to jobs numbers is unintelligible over the sound of investors trampling each other at the exit door of real estate and "alternative" investment vehicles.

As Michael Metz, chief investment strategist at Oppenheimer Holdings said yesterday, the Market has stopped sending rational or intelligible signals.

Rational investors and students ought to see current strength in the stock market as money with no other place to go.

Chaos reigns in currency markets as well.

Strength in stocks in the face of an impending downturn in the domestic economy is, at best, Pig Latin.

see previous Demand Side take: Strong Stock Market, Weak Economy

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