A lot of chatter today giving credit to the positive market move to Romney's good debate performance. Statistics is calling bullshit.
I had the good fortune to interview Statistics today, and this is what he had to say: (Statistics is a man, sorry ladies :)
me: Statistics what gives? Is today due to Romney or am I being fed bullshit?
Statistics: How does that bullshit taste? Using Sarcastaball theory, Romney's good debate showing caused the market to rally today. Romney gave us a +0.72% market push.
obless claims were better than expected (at 8:30am allowing for a higher market open), and the better Factory Order data at 10am was directly followed by a market run.
Looks like there is a direct correlation to the data points and today's intra-day market move. And if the data points caused the rally, then it looks like Obama should get the rally award. (As it was his policies that set the stage for the economic data points.)
Listen Echo, I love data points. The more the merrier. So if we were to look at 4 years worth of market data, we would get a clearer picture. Oh, I don't know, lets start from Jan 21st 2009.
me: Hey, that was President Obama's first day in office!
Statistics: Yup, you are correct. Echo, your a smart guy!
me: on rare occasions :)
Statistics: The SP500 was trading around 840. Today the SP500 closed at 1461. Obama gave us a +42.5% rise in the stock market. Yup, a 42.5% rise over almost a 4yr period.
me: Oh Statistics, its so hard to argue the numbers. Thank you for showing me the bullshit.