Manufacturing ISM Follows Chicago PMI With A Miss; Declines To 50.8 On Expectations Of Rise

Tyler Durden's picture

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HelluvaEngineer's picture

Who cares?  BTFD'ers out in full force this morning.  Doing as they have been trained.  Not even smart enough to wait for the bottom of the range.

HelluvaEngineer's picture

Yay.  All it took was gov't subprime lending.  On a local radio station, a local GM dealer brags that they can get you into a new Camaro with a 450 FICO score.  The kicker - you don't have to make a payment for 6 months!  Bankruptcy?  No problem.  Not kidding.

Mike2756's picture

wow, 450? somebody stop me!

srsly-wtf's picture

It can't go straight down....there are always knife catchers and weak shorts.

Tsar Pointless's picture

Who cares? The bottom for the day is in.

After four whole minutes of selling at the open, it's been a relentless grind up in the US equity indices, thanks to our friendly HFT machines.

They're only looking out for our best interests. A rising stock market makes Mr. and Mrs. Serf happy!

gatorengineer's picture

Bullish --- See the huge drop in prices?  Benny now clear to print.......  Benny needs double digit inflation......

Hansel's picture

Who pulled the rug out from under everyone?  It really tied the room together, did it not?

qussl3's picture

DEFLATION!

The lights are green.

God help us all.

Rockfish's picture

I spoke to God he said " help yourself get some gold"

srsly-wtf's picture

The afterglow from the 'Best month for stocks in 30 years" fades.....

firstdivision's picture

I love how some of the respondents used terms like "deflation", and "contraction".  Guess they must be sending a signal to the Fed. Bank bonuses are in jepordy, must push out QE3.

youngman's picture

Who cares about the USA today..its all Greece and a little MF .......

CreditcalMass's picture

Shouldn't inventories be growing in anticipation of the holiday season? Those thanksgiving sales are supposed to start in a few weeks....

CreditcalMass's picture

A. I don't buy his "leveling of the hump" explanation for a damn minute.

B. The Port of Oakland doesn't matter, let me know when the Port of Long Beach and Port of Los Angeles go on strike.

Mike2756's picture

Seattle does to some extent, he is right about peak, don't know if it's gone forever. It's been a very weak ramp to the holiday season.

undercover brother's picture

With this bit of bad news, the market immediately rejected the selloff.   Watch out shorts.   Never underestimate the power of the gov't to manipulate markets when it serves their political agenda.   UP is still the agenda. 

Mike2756's picture

yep, a lot of stuff trading above the open.

Dick Darlington's picture

Bullish for equities apparently...

RobotTrader's picture

We opened up with a TRIN of 10.3 after closing yesterday with a 3.2

And we have had 43 consecutive trading days with -1000 TICK readings.

Any wonder why PNRA, CMG, LTD, etc. are pretty much unfazed today?

Snakeeyes's picture

Light Dawns on MBS Investors – Streamlined Refis Will Be Lower Than Hoped – ISM Price Index Nosedives

http://confoundedinterest.wordpress.com/

Look at the ISM price index. Deflation anyone?

LawsofPhysics's picture

Shit.  Someone's lying.

Caviar Emptor's picture

We're eating more than we're shopping. This has to stop. I call on the Fed to force Americans to do more shopping

jtmo3's picture

Wondered why we're off the lows. Now I know. Good is good and bad is good. 

HedgeOn's picture

the establishment will not let the wheels fall of this bus until it's advantageous - qe3 motors are revving

 

slewie the pi-rat's picture

well, the inexpensive puts are coming in handy now, eh, sportz lovers?

and, it is not too early to start putting in a some real shitty bids for cheap calls, imo

IveBeenHad's picture

I recently read a pretty compelling report offering a bull case for falling producer prices.  As inflation pressures fall businesses can stop worrying about costs and focus on investing and growing... The report shows the strong inverse correlation between producer prices (6M forward leader) and PMI.  Prices declines lead increases in PMI by approximately 6-9 months. 

I am making this point b/c the poster said that falling prices is bad for stocks but this point is in direct contrast.  

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