Good Morning
Slow day today on the fundamental side of the market. Compared to yesterday today is really slow. You should have cleaned up on thursday.
I want to talk a little bit about this recession the news says we are having than says we are not having. These news people are changing their mines every day due to daily fluctations in the market. They are not looking at past year stats. YOU CANNOT LOOK AT DAILY ECONOMIC FORECASTS TO DETERMINE A RECESSION. sheesh....Bloomberg.com has an article saying its looking bad because car sales and consumer spending is down. HELLO!!!! its february. Consumers are not going to buy alot of stuff right after christmas....First quarter is usually slow, EVERY YEAR......They (media) keeps saying the economy is at a .5% growth rate. The technical defanition of recession is negative growth or no growth. 0.5 is SLOW GROWTH.
All these journalist that call themselves economists don't know anything because they report the news not actually invest or trade........Makes me sick....They have been reporting bad numbers and interepret it as a recession. Not look at the fact that its right after the holidays.......
JP
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