Monday, June 3, 2013

Stocks Higher Following ISM Disappointment

"More importantly, this was the worst ISM headline print since June 2009, the first sub-50 print since November 2012, while the New Orders of 48.8, was the worst since July 2012."
Not exactly what I would call "soaring", but the Dow is up 60 points, while the S&P is flat. It appears Wall St is already shrugging off not only last Friday's revelation from an internal Fed report indicating their concern that they have created stock and bond market(s) bubbles, but today's latest bad news also. That alone is classic bubble behavior!

I am currently reading Didier Sornett's erudite and esoteric book, Why Stock Markets Crash. I had to acquire it via an interlibrary loan from a university library.