There's another huge upward swing in the stock markets today, after yesterday's monster plunge. And ordinarily, these movements would depend on breaking news regarding major economic and political announcements such as employment reports, business performance, international happenings and wars. However, with the advent of today's trading techniques and automation enhancements, the triggers for securities buying and selling has dramatically changed.
For example, the unemployment data released this morning showed that 375,000 folks filed for the first time last week, slightly lower but certainly not an indicator of a meaningful turn around. At the same time some encouraging news was released regarding solutions to European debt. And although both of these items have significant meaning, neither should impact markets that much.
So, what's likely going on now is that major buy/sell securities programs that have been installed are automatically reacting when certain things occur, which means that trading doesn't even involve spur of the moment analysis or thought...the programs institute orders themselves. Beyond that there are significant day traders whose business involves immediate up or down changes, and these types have no bearing on real market trends at all.
Now, what all this means in the long run is anyone's guess, but it seems more and more apparent that the securities markets are no longer the benchmarks of the nation's actual economic status that they once were.
Then, as I mentioned yesterday, the Republican's first debate is tonight and I still can't figure out why I should watch it. Because I know right now that if Michelle Bachmann, for example, gave the performance of her life she's still absolutely and unequivocally unqualified to be president of the U.S., and Pawlenty might be the most boring dude that ever drew breath but governed well just the same, which is all that counts.
I also recall, although I've never tuned in, that our current leader is supposedly one for the best debaters that ever drew breath. So, if this guy's a good example of what superior debaters are all about, obviously that particular talent has no value at all in running a nation. And, what's more, as I type, talking heads are starting to use the "C" word in comparisons when discussing the current president...and in my lifetime I've never heard of any leader anywhere worse than Carter.
So, in closing, I really don't care about what any of these folks have to say tonight and instead as usual will watch re-runs of shows that I like.
That's it for today folks.
Adios
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