Random Thoughts: The Market Digests Good News

By Todd Harrison  OCT 15, 2012 1:05 PM

The reaction to the news is more important than the news itself.

 


MINYANVILLE ORIGINAL

Editor's Note: Todd posts his vibes in real time each day on our Buzz & Banter.

We walked into work this morning to find some constructive news in the marketplace. 

Citigroup (NYSE:C) beat analyst estimates largely due to its bond trading revenue, and retail sales were better than expected.  That, coupled with firm bourses overseas, put some pep in the bovine step as we embark on a fresh five-session set.

All is not cream puffs and powdered sugar, however.  The S&P (INDEXSP:.INX) remains below where we were trading when QE-finity was announced, and despite 15 trillion odd reasons why the economy “should” be doing better, economic grown is sluggish at best, per the latest stateside GDP report and the most recent forecast from the IMF.

What to do?  Breathe, and take our journey one step at a time as we together find our way. 

Through that lens and along those lines, I humbly offer today’s random thoughts in no particular order:
R.P.

Twitter: @todd_harrison

Position in RIMM

Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at todd@minyanville.com.

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