This market is desperate.  Desperate for a glimmer of hope, a light at the end of the tunnel, politicians with brains.  Whoops!  Did I just say that last part out loud?

So, New Home Sales went up today all of 0.01 – told in millions, that’s 10,000 homes.  The teeniest of moves up.  Barely a drop in a very tired, sad, empty bucket.  But the way the markets reacted, you would have thought we had a return to, IDK, 2001!  LOL!  Okay, I love volatile news announcements, so I’ll take it, but it’s just plain weird.

New Home Sales; 7-26-2010

5 points on the initial move, 1.25 on the correction, 3 points on the similar move.  Okey-dokey, we’ll take it!!

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