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May 2017
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Data negated

                Some Wall Street “personalities” are trying their hardest to pump the market back up pointing to whatever good data they can find.  Unfortunately, for each data found there is a statement disclosed between the lines that completely negates it.  For example, LEN went up 12% yesterday on news that the company earned 19 cents a share (although $1.50 something of that was a tax rebate from carrying loses back eons, the Chris Dodd affect).  Without the tax credit, the company would of have reported a 1.30 loss…ouch.  Today’s unemployment data was very similar.  There was the strong sign of an improvement in the employment number, “only” 85K people lost their jobs.  At the same time, 661K people left the work force and real unemployment is well over 17%.  Unrealistic expectations are exuberantly high, the vix is shockingly low, and credit is tightening.  O where oh where is the market heading!

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