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Spaf wrote:
It was the who was going to blink first thing. Market started to turn south and it was a chain reaction of the roaches jumping ship. Forcing the other roaches to buy stock and cover. As you can tell the market was not that short anymore because the move was really not that large.
It would of been fun if all this economic data did not come out during a quad/trip witch week. Great planning on the part of the releasers:^.
That was a very bad bit of news ahead of leading indicators on Monday.
The bond market action tells you what is going on.
Sometimes you have to look under the surface to read the tea leaves.
The estimated was lowered to 10 and it missed by a whopper.
And it is not only Philly as someone pointed out - it is the whole mid atlantic region - you know the ones that have all the ports and factories that ship to Europe - yeah that one (it is extremely important -a thing called trade):
Output at factories in the Mid-Atlantic region of the United States slowed this month, a regional central bank said Thursday, the latest evidence that the U.S. economy may be headed for softer growth.
"(The numbers) were pretty weak except for the employment index which has been pr to -19 from -0.1 in May. The delivery times index fell to -13.2 in June from a barely positive reading of 0.5 in May and the employment index rose to 7.1 from 5.4 in May.
"The industrial sector isn't looking too hot," said Jason Daw, senior G-10 strategist at Merrill Lynch.
Spaf wrote:
Because the shorts started to cover on the bad news which forced others to buy stocks.
It was the who was going to blink first thing. Market started to turn south and it was a chain reaction of the roaches jumping ship. Forcing the other roaches to buy stock and cover. As you can tell the market was not that short anymore because the move was really not that large.
It would of been fun if all this economic data did not come out during a quad/trip witch week. Great planning on the part of the releasers:^.
That was a very bad bit of news ahead of leading indicators on Monday.
The bond market action tells you what is going on.
Sometimes you have to look under the surface to read the tea leaves.
The estimated was lowered to 10 and it missed by a whopper.
And it is not only Philly as someone pointed out - it is the whole mid atlantic region - you know the ones that have all the ports and factories that ship to Europe - yeah that one (it is extremely important -a thing called trade):
Output at factories in the Mid-Atlantic region of the United States slowed this month, a regional central bank said Thursday, the latest evidence that the U.S. economy may be headed for softer growth.
"(The numbers) were pretty weak except for the employment index which has been pr to -19 from -0.1 in May. The delivery times index fell to -13.2 in June from a barely positive reading of 0.5 in May and the employment index rose to 7.1 from 5.4 in May.
"The industrial sector isn't looking too hot," said Jason Daw, senior G-10 strategist at Merrill Lynch.
Spaf
Spaf
Spaf