GDP @ 1.3 and Irrational Behavior
Started by
hedgehawk
, Apr 27 2007 08:53 PM
1 reply to this topic
#1
Posted 27 April 2007 - 08:53 PM
How significant was todays GDP est at 1.3? I for one think the market acted irrational today.
1. Futures were significantly lower after the GDP release but market indices trade with positive bias for most of the day. The A/D though was negative through out the day.
2. Stocks like BIDU which was up over 30 points in pre market retraced 50% of that move shortly after the stock opened and CMI had a similar pop and wack move. Seems to indicate folks are acting with a total disregard for risk.
I think the market will trade lower next week Fed repo infusions aside.
#2
Posted 28 April 2007 - 01:11 PM
I would offer that the behavior is not so irrational considering what this all means for the dollar.How significant was todays GDP est at 1.3? I for one think the market acted irrational today.
1. Futures were significantly lower after the GDP release but market indices trade with positive bias for most of the day. The A/D though was negative through out the day.
2. Stocks like BIDU which was up over 30 points in pre market retraced 50% of that move shortly after the stock opened and CMI had a similar pop and wack move. Seems to indicate folks are acting with a total disregard for risk.
I think the market will trade lower next week Fed repo infusions aside.