ISM better than expected causing stocks to skyrocket, if tomorrows weekly job report and fridays big monthly job report are good the markets could be up over 5% for the week erasing all of losses for August.
yeah..looks like bulls are just went crazy..trying to use whatever bull news they can find.. let's see what the news are for today.. looks like going into holiday weekend nobody give a shit about bad news anymore. only good ones are counted. btw-i always wondering-why there is no circuit breakers on upside?
"Entering September - The Weakest Month For Stocks" +2.7% this morning. that's ~1,700,000% annualized!
Hm, strong indeed. Profits don't look too bad either, for the efforts of a single mouse click. Staying positioned. (Sorry I'm too cheap to subscribe to realtime market data. I rather keep it for my daily bread.)
Sep is weak historically but we jump up huge on the first day. One way to rationalize this is that massively oversold Aug may lead to unusually positive Sep due to mean reversion. Turns out that the history indicates that a weak Aug does NOT lead to a strong Sep. One day does not make a trend as they say. ''How September Has Performed After August Has Been Weak September has a well-earned reputation as the worst month of the year for the stock market. But with August performing so poorly I wondered how that might affect Septemberâs performance. The SPX finished August down 4.7%. Below I conducted a study showing how September has performed following August returns worse than X%.' http://quantifiableedges.blogspot.com/2010/09/how-september-has-performed-after.html
Sep is weak historically but we jump up huge on the first day. One way to rationalize this is that massively oversold Aug may lead to unusually positive Sep due to mean reversion. Turns out that the history indicates that a weak Aug does NOT lead to a strong Sep. One day does not make a trend as they say. ----------------------------------------------------------------------------------- Good point. Today's up move could be the only move this week. Could trend sideways tomorrow and friday as many prepare for the holiday. Sept 6th will be interesting.