Wall Street Remains Bullish Despite Data
NEW YORK (AP) -- With all the predicaments facing the markets these days -- credit growing scarcer, oil near a record $90 a barrel, home prices in the dumps -- it would be logical if investors were shoving money under their mattresses, instead of into stocks.
But logic doesn't always prevail on Wall Street.
Final Look at Local Housing Markets in February
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Today, in the Calculated Risk Real Estate Newsletter: Final Look at Local
Housing Markets in February
A brief excerpt:
Note: Most analysts were surprised...
1 hour ago
2 comments:
When I read this kind of "news" It reinforces my belief that the big money that moves the stock market is largely separate from the economy I face - or perhaps I should say that the big money is still able to function as though it can exist in a reality separate from than that faced by the bulk of the populace. As the disparity between these economies grows the open question is how long such a condition can exist. Maybe we really do have two separate economies that can coexist, but I wouldn't bet on it.
Why is it that most crashes start with a parabola? You'd think that after the dotcom bubble, people wouldn't be so willing to embrace the parabolas and the "sure" things.
I'm not sure of anything. Is China now a one-way bet that only goes up? Is our dollar a one-way bet that only goes down? I wouldn't bet on the obvious and expect to make money. The market seems to have an uncanny ability to eventually destroy the obvious one-way bets, and has a long standing history of doing just that.
Just my two cents. If I knew for sure where things were heading next I'd be in the casino with everyone else.
Markets are constantly in a state of uncertainty and flux and money is make by discounting the obvious and betting on the unexpected. - George Soros
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