Services economy cliff-dives and we squeeze higher again... sure why not...
Another day another huge short squeze - the last 3 days are the biggest rise in "Most Shorted" stocks since Black Monday week's bounce...
Submitted by Simon Black via SovereignMan.com,
In the middle of a heated battle against my jetlag yesterday, I finally decided to exercise the nuclear option and turn on CNBC in order to stay awake.
I figured someone would say something completely ridiculous, and it would get my blood boiling enough to power through the next couple of hours.
Within minutes I saw a top economist for Moody’s (one of the largest rating agencies in the world) saying that there are absolutely zero signs of recession.
“The Brazilian economic downturn took a real turn for the worse in February," according to Markit's Composite PMI, which collapsed to record lows at 39.0. Despite a slightly less bad than expected GDP print this morning (stil down a record 5.89% YoY), hope was quickly extinguished as PMIs showed economic activity continuing to contract at a record pace, job losses accelerating, and manufacturing's collapse accelerating.
Moments ago Mitt Romney concluded a fiery speech in which he blasted Donald Trump, accusing him of being a "con man" and asking republicans to choose anyone else. Among the point he brought up was that Trump's domestic polices would sink America into a recession, that his foreign policies would make the world less safe, and criticized Trump's personal qualities, calling him "a bully" and "a misogynist."
Submitted by C. Jay Engel via The Sullivan Group,