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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: DebtBomb who wrote (279803)9/30/2010 8:45:36 AM
From: Giordano BrunoRead Replies (1) of 306849
 
Extended unemployment claims are almost as good as a job. -g-

...what the market once again misses is that for the nth week in a row the previous week's claim number is revised, as always, higher, but who cares. Last week's 465K was pushed higher to 468K, essentially making this week's "improvement" a wash. Continuing claims came at 4.457MM, even as the prior week's data was stunningly revised far higher, from 4.489MM to 4.540MM. DOL indeed. And while the market focuses on completely irrelevant noise of beats by a few thousand which the BLS will certainly revise for a deterioration next week, those who no longer receive 99 weeks of max claims continues to decline: those on EUC declined by -256,536, while those on extended claims fell by -36,686.

Of course none of this matters to the algos: all they need is the slightest validation to turn the ramp signal on.
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