Tuesday, May 26, 2009
One to foam at the mouth over I suspect
Bloomberg: US Consumer confidence soars
I mean really WTF does "confidence" have to do with it, is the consumer earning more, can the consumer continue to leverage up seem more sensible and objective measures but instead the market rallies MAJORLY on this news .
Seems confidence was last this high in September.
Posted by bellwether @ 04:06 PM (888 views) Add Comment
13 Comments
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1. drewster said...
I suspect consumer confidence can be related to the weather. Most people seem to brighten up when the sun shines. Did they conduct the survey on a sunny day?
2. techieman said...
BW - cc numbers are often market movers if they are out of kilter with expectations. In any case this might be of interest... http://www.neowave.com/company-oct2008interview.asp [you might need to print out the pics at the same time] .... have fun!
3. Yellerkat said...
Here's a quote from http://www.conference-board.org/economics/ConsumerConfidence.cfm :
"Consumers' overall assessment of current-day conditions improved again. Those claiming business conditions are "good" increased to 8.7 percent from 7.9 percent. However, those claiming conditions are "bad" increased to 45.3 percent from 44.9 percent. Consumers' appraisal of the job market was also more favorable. Those claiming jobs are "hard to get" decreased to 44.7 percent from 46.6 percent in April. Those saying jobs are "plentiful" edged up to 5.7 percent from 4.9 percent."
To the stars!
4. crunchy said...
Painting the tape often leads to excitement and optimism.
5. paranoia blue said...
Subjectivity can rule objectivity, for only so long!
Enjoy:
http://www.youtube.com/watch?v=zhhkF3dqXR0
6. cyril said...
According to this indicator, confidence is still 20% lower than it was in September (but it doesn't say whether it's seasonally adjusted).
What a load of sh1te!
7. bystander said...
The markets seem to love all this optimism. It would appear the dead cat is still smiling and twitching. Any thoughts on when the reversal will occur and what might be the catalyst?
8. crunchy said...
6. Who knows?.. When the banks decide to take out profits to pay back some of their debts? The irony!
9. robh said...
The dead cat is fitted with electrodes
10. alan said...
Yes, its up. In April it was around 30 points, now its 40 points.
What they don't say is that last October it was 60 points!
I think its called putting on a brave face, or positive spin........or whatever...
11. crunchy said...
Your wisdom is consumed in confidence. Do not go forth today.
Shakespeare.
12. Hmm said...
CNBC's Jim Cramer on why the market moved higher
http://www.cnbc.com/id/30943728
13. hpwatcher said...
..........................a joke