Green Shoots Turn Brown . . .

The cold slap across the face of reality that was the Retail Sales numbers this morning has caught more than a few traders by surprise. Dow down nearly 200, lots of red on the screens.

What we call the “News” is really the “Old” — cold data, older information, mostly reflected in stock prices already. Hence, as Andrew Upward notes, its reputation as a lagging indicator: “How quickly the spin and rhetoric reverse course to accommodate the direction of the market!”

John Roque (Natexis) mentioned in a recent research note that EVERY time Wall Street discovers a new mantra, it ultimately fails — Green shoots, contained, decoupling, long term-investor — all end in tears and lower prices . . .

Print Friendly, PDF & Email

What's been said:

Discussions found on the web:

Posted Under