Mostly Sunny?

[tradingadvan]

Even though there was no U.S. economic data released today, the market found fault with everything from Holland to China. Things looked bleak all over, but of course the only “story” was the Mexican Wal-Mart bribery scandal. Yes, the stock price fell and the implications may be huge for the über-retailer, but Wal-Mart has lagged behind the broader market rally since 2009. Yes, the stock has rebounded about 25%, but it’s by less than a third of the growth experienced by the broader index.

But that doesn’t matter, because the Wal-Mart story is infotainment and that makes for much better television than say the threat of global financial meltdown when the ink runs dry. Bribery and corrupt government officials are sexy - the fallacy of forced liquidity is not.

While the folks on TV may be reporting the wrong story, the folks in the print media are just plain wrong. Case in point, the latest issue of Barron’s where the front cover said “Outlook: Mostly Sunny”

What Barron's is referring to here is the latest Big Money poll that it conducts semi-annually. The actual title of the article is “Reason to Cheer”

Are you kidding, a reason to cheer, about what? Benny and The Inkjets cranking up the printing presses for an impeding QE3...Europe on the brink of financial implosion and wide scale instability...so-so earnings...future scenario’s like MF Global still missing billions because of regulatory malfeasance?

I’ll take a pass on the sunglasses, thanks anyways.


Trade well and follow the trend, not the so-called “experts.”

___________
Larry Levin
Founder of TradingAdvantage

[Jayden42]

What!? Not happy with the scraps the fat cats are throwing ya!? Blasphemy! lol

[salem]

"I’ll take a pass on the sunglasses" well said )