Greed Has Replaced Fear.

The ADP Report on April Payroll data was much better then expected. The report had expected upwards of 650,000 job losses for April, but came in at 491,000 expected job losses. Hhmmmm, so we lost only 500,000 jobs in April, so lets go out and celebrate! Do people know that this report doesn't correlate well with the actual Non Farm Payroll that comes out first Friday of every month? Do people realize that the more indicative payroll report which is the Challenger Report actually came out and stated that job losses and layoffs increased 47% from last year?

So less bad news is the new good news?

Random Food For Thought-

1 in 5 homeowners are at least 30 days past due on their mortgage.

The markets are strong, as people who feel the train is leaving the station bid up shares.
Any excuse will do to take the markets higher.

Good News - Markets rally 5%
Bad News - Markets rally 3%

The markets were in total free fall mode at the end of 2008, and at the start of 2009, for very GOOD reasons, as FEAR dominated.

Now, GREED is entering the equation, as people are putting their faith into a economic/financial recovery.

REASON always trumps FAITH!