We guess, according to this theory, short-sellers are Patriots and longs are Giants. Actually, that sounds about right.
The market is likely to surge if the Giants beat the Patriots, according to the Super Bowl Stock Theory by sportswriter Leonard Koppett.
It says the market goes up if the Super Bowl champ was in the NFL before it merged with the AFL in 1970.
The Patriots joined the AFL in 1960; the Giants have been part of the NFL since 1925.
Weird But True [New York Post]
Go check out Eddy Elfeinbein and Greg Newton, who are are “liveblogging” the markets this morning.
From Eddy: “How’s this for a crazy market? Two weeks ago, Bed Bath & Beyond (BBBY) gave us a nasty earnings warning. The stock dropped 4.4% on 18 million shares in volume. Today it’s rallying on an upgrade and Fed rate cut to above where it was before the warning.”
From Greg: “It’s looking like just another of those days that we’ve seen so often in recent months. A raucous 400 point rally off the bottom—Buy financials! Buy retailers! Buy homebuilders! —but it’s being sold. Kudlow wants taxes cut to zero: therezzashock. Still just watching (insert Yogi-ism here).”
Also, later today Bess will be issuing some investing advice for younger women.