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[hedgehawk]

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.

[jjc]

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.

I would offer that the behavior is not so irrational considering what this all means for the dollar.