Did you hear? The Dow dropped today on news of sluggish retail sales and growing fears we are indeed in a recession. Huh? I call baloney. No one expected a strong sales report and everyone has known for sometime we are in a recession. You’d have to be under a rock not to know and those who live under a rock typically don’t influence the Dow. Methinks it is more about profit takers who are making the decision to sell when the Dow manages a spike. I think it will happen over and over again for some time. The Dow will likely look more like an EKG than a kite string to heaven. To expect otherwise would be silly at this point. Blaming a downturn on news that really isn’t news doesn’t make sense.
