Wrapup: Strangeness


Markets have been acting funny all day. As if there were some major event waiting to unfold. Well, that is until 2pm or so, when they took off and didn't look back.
The market shrugged off a bunch of bad news to post rather significant gains by the end. White house scraps with the FDIC have stalled any action on that front. Factory order data was dismal. October killed car sales deader than they were in September. EU looks clearly to be in a recession and ex-Goldman analysts are fleeing the country. Market: "Yeah, so?"
It's the sort of denial that keeps you out for the sixth round of drinks on a Wednesday. You can always grab a few hours of sleep before your meeting the next morning, right? As long as you don't go too overboard, the hangover won't be too bad. You don't have to pay much attention in that meeting anyhow. Actually, you might as well just stay up all night. Why not?
But, we suppose that since October is over, all must be right with the world. Towards the close everyone was, doubtless, in a rush to get home quickly to watch the new 90210 ("Secrets and Lies") on CW, explaining a lot of the "why the fuck not" buying that led into the closing bell.
Anyhow, we are going to head home soon and see if anything is on T.V. tonight. 90210 has gotten dull and its shaping up to be a boring Tuesday.