Bing Blog

Wall Street is nervous! (That's news?)

Yogi Berra

Wall Street is nervous this morning. True, there was a positive report on Gross Domestic Product. But the employment and manufacturing has its panties in a twist. It's like Yogi Berra said. Half the game is all mental.

For a while, we were in a pleasant trough. Not every story was about how the market was reacting to its latest bout of gas. But I can feel the whole big machine rolling back into the comfy groove where it sat before the fall of 2008. There is truly a dearth of interesting business news right now, unless you think the demotion of the G8 in favor of the G20 is big news. If there's no news, what else is there to do but follow the market.

Following the market means explaining why it does what it does on any given day. That's nonsense, of course. Nobody knows why the demented, greedy beast does what it does on any given day. So folks look at some of the numbers and try to sound authoritative. GDP news is positive.  That's good, right? So why isn't the market up? Because of unemployment, naturally. But doesn't the market sort of LIKE unemployment? Sure it does. So why isn't it up? Could it be ... manufacturing? Sure!

It could also be that Sasquatch was rumored to be at a Starbucks in Tacoma.

Take it easy, Street! Feel better fast! You can do it! You don't even need a reason! And that, my friends, is a proven fact.

13 Comments Add Comment

Hey, I was in a Tacoma starbucks this weekend on the way to a huge motorcycle rally in Anacortes. Apparently it's time for me to visit the barber (or hair salon for the business types in the blog). You guys have fabulous nails!

Bing:

As I write this at 1:30PM, the market is now back on the plus side, up 14 points.

Moral of the story: You are right...who know what makes the market move?

Exactly right...I am always amazed at the tv personalities that have definitive answers as to why the market is up or down on any given day (and oddly enough there seems to only ever be one reason).

I told my broker to sell Jack Link's Beef Jerky stock because their spokesperson (spokesthing?) is hanging out at Starbucks.

He told me that Jack Link's is not publicly traded. So I told him to sell Starbucks instead.

Who says the market is irrational?

Why does the stock market act like a rocket with no gyroscope? Hmmmm?

Perhaps those foxy members of the trillionaire clubs might have a clue. Think about it!

"The market went up today due to heavy buying demand outpacing supply." A very common -- and profound -- explanation. You will hear this, actually, just listen carefully when the commentators talk.

Yes, Dr. Drey, you are correct. We had an IR guy here a while back. Every time you'd ask him why the stock was up, he'd say, "More buyers than sellers." When you'd ask why the stock was down, he'd say, "More sellers than buyers." Fabulous, huh?

Bing, When people lose power, they do what ever it takes to keep what they have...anything. (See your last blog) This is especially true when said power is taken from you prison style or by the ghost of (insert financial term here) past.

Markets behave the way they do because they are as irrational as their participants.

Sure Bernie, 15% every year, forever, no matter what. Gee, Bern that almost sounds too good to be true.

Amazon.com? What the hell is that a Brazilian outfitter? Buy it, I can't even understand it? Even so, are they making any money?

Gargle? Lavoris? Logrithms? Google? What the hell's the difference? Buy it? Huh?

Screw that. I'm stickin with that dependable dividend machine, General Motors. I wanna know my money is safe.

Egyptian cotton? There you go again Milo. I know, and everybody gets a share.

Its impossible to mfg U.S. goods
outside . World wide trade war , dec 2010. No Asian pdts enter U.S. . No Toyotas nor Hondas make
in USA in 2011 .

Bill Payer, you're my kind of guy; cryptic and crazy.

Let's not forget about all of the wheeling and dealing going on in the merger market. We got Oracle waiting on eternity or the European
Union to OK their deal with SUN, whichever comes first. We got a $6.6 billion Abbott purchase of
Solvay which actually caused ABT stock to rise.
We can't forget all the excitement
being created by the girls crashing through the glass merger ceiling. We have Bing's favorite, Irene Rosenfeld of Kraft with a hostile $16 billion bid for Cadbury. We also have Ursula Burns of Xerox making a $6 billion purchase of ACS. Let's hope Ms. Burns has better luck with the European Union than Oracle.

I hate to chat and run, but I have to check out the new instant VIA at Starbucks--their latest attack against McDonalds in the coffee war. I previously stopped my occasional breakfast at McDonalds because they started serving horrible instant coffee. Now SBUX is instant and MCD is brewed so I may have to stop going to SBUX and go back to MCD for breakfast in order to get some decent coffee.

Wall street nervous,,,duh,,,you mean the suckers are finally on to this supersize con game,,,GDP ,,Gawd Dam Projections,,based on of all things ,,paper manipulation and consumer consumption...whatever happened to manufacturing and exports.....as a basis for the calculation...

Buy American,,,if you can find out what the el. they still make..

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