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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: ild who wrote (74701)12/1/2006 2:04:20 PM
From: ild   of 110194
 
@ISM, construction -- trotsky, 11:23:06 12/01/06 Fri
a horrorshow. ISM shows manufacturing in contraction, October construction in steepest decline since the official 2001 recession period. what's the Dow doing at 12K?
i know, i'm the one that keeps telling you that fundamentals aren't as important as widely believed, but there is a clear historical record regarding stock market performance during recessions. the usual sequence of events has the market declining first, and the recession arriving thereafter - then the market keeps going down during the recession, but it generally bottoms before the recession actually ends.
what is happening here is extremely unusual - but, as mentioned yesterday, not completely unprecedented.
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