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Hi there everyone.
A couple of things to ponder this evening!
Here the first.
Karl Denninger at the market ticker does the best jobs numbers analysis that I can find.
I was very suspicious about that release last week,
and then I read his take on it.
In short,
the report is a whole load of crap,
based on statistical models which overestimate and distort on a routine basis.
I simply cannot believe the headline figures that comes out of that office!
Second:
the latest put/call date from the CBOE is very telling indeed!
The Bulls slammed the ratio to the floor over the last few weeks!
Bulls are in party mode again.
Ok down to business.
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