Wrong nationality?
As I find it quite difficult … and every day more … to be “in sync” with the way, US markets and US media reacts to news and events …
I probably found the reason … I am not american 
A kind of optimism … let’s face it … even a blind optimism and still believing in “official statements”.
Sometimes I feel like being on the “Titanic” … didn’t they go under as well with the music playing???
Do I sound too negative? I apologize for being raised in “always pessimistic” Germany 
Just let’s check todays so called REASONS (Do we need them anyway?) why the market held up:
- Yahoo said to have started talks with Time Warner about merging Yahoo with AOL to fend off Microsoft.
Yahoo trading higher … Microsoft as well … hmmm … at least the reason for the latter I understand …
- Ambac raised capital … HOORAY … market squeezed … then they found out … it will be LESS than anticipated …
Stock sold off more than 21% and announced a virtual dropping out of business … MBIA dropped 7% … ok help me on that one
- ADP sees a DROP of 23k in private jobs for February … HEY … this could be positive news as ADP was way wrong the last months anyway.
But … ooops … they always OVERstated the growth figures …
- FED Beige Book had it, that two thirds of districts had business activities SHRINKING in 2008 … at least not 100% … is this the positive news?
I hope not … but talking heads talk nonsense about a bigger rate cut by the FED … 0.75 is seen as “minimum” now … even a inter meeting cut is seen now.
AAARRGH … as meeting is just around the corner …
PLEASE Ben … don’t be THAT STUPID!!!
- LAST, but not least … OIL is up … new highs!!! … 104,50$ … Gold hits 995$ … POSITIVE??? Really???
IMHO not even for oil stocks … but they lead the market today. Maybe they don’t teach in the US, what is stagflation … ???
So … at the end of the day …
I found out, that I will have to work a lot on my attitude to feel good again listening to the media and the Bernankes and Paulsons of this planet
Take care
