Skip to comments.Blind To Reality
Posted on 06/15/2007 5:54:13 AM PDT by Kitten Festival
Journalism: The Dow had just pierced 13,000, but TV news anchors couldn't fathom why. All the data, they noted, showed the economy doing worse, not better. But therein lies a problem with media market analysis.
Now, we'll gladly stipulate that knowing why the stock market is acting the way it is on any given day is difficult, if not impossible. Yes, you can guess, as many do, but no one knows for sure. The real reason doesn't usually become clear until months later.
But that's the point. Daily market action usually doesn't reflect current conditions, let alone old government data. Investors are buying or selling based on their perception of conditions six to nine months in the future, not where the GDP was last quarter, the CPI was last month or bond yields are this week.
But don't tell that to Katie Couric.
(Excerpt) Read more at ibdeditorials.com ...
‘swhy they’re in a layoff mode. Nobody’s buying their crap.
Democrat Talking Points.
Last paragraph of the article:
The only way to follow the market, in our opinion, is to watch it on a day-in, day-out basis. It is acting healthy or isn't it? If it is, there's even more upside for those who have ignored all the bearish nonsense in the media.Amen!
The shorts are probably the ones watching all the gloom and doom media coverage. That makes them the natural prey of the operators who ignore the perky one and her ilk, because they're too busy watching the market itself.
Not to worry, if a Democrat president is elected in 2008 the liberal MSM will know who to credit.
Headlines are getting just as unfathomable as email spam subjects. The accompanying articles are not much better.
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