If you are confused, it is because you understand. Are we clear on this?

Dec.04, 2008 in Market Outlook

THIS IS BECOMING SO BAD IT’S EPIC:

“(USA Service Sector)
The ISM non-manufacturing index fell to 37.3% from 44.4% in October. It’s the lowest level since the survey began in 1997. Readings below 50% in the diffusion index indicate more firms are contracting than expanding.

Economists surveyed by MarketWatch expected the ISM index to fall to 42.7%.

(USA Manufacturing Sector)
On Monday, the group reported that the ISM manufacturing index also plunged in November to 36.2%, the lowest level since May 1982.

(USA Employment)
The survey was released two days before the key November employment report.
Economists expect 350,000 job losses in the month. A decrease of 350,000 would be the largest drop since May 1980, when more than 400,000 jobs were shed.

The ISM employment index fell to 31.3% from 41.5% in October. This raises the risk of a worse drop in employment than economists expect.

Ian Shepherdson, chief U.S. economist at High Frequency Economics, said the plunge in the ISM employment index is consistent with 500,000 lost jobs in November.

Other reports released Wednesday showed a weakening labor market. According to the ADP national employment index, the U.S. private sector shed 250,000 jobs in November, the biggest job loss in seven years.”

http://www.marketwatch.com/news/story/US-services-sector-contracting-record/story.aspx?guid=%7B527E17EC%2D8CF9%2D4604%2D904A%2DB18A338DD327%7D
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That last paragraph is a snapshot of what’s to come friday. ADP is nowhere near as comprehensive as data out friday, hence why numbers are lower than forecasts above it.

ANYWAY as a result of this data today and the fact MARKET F^%KING RALLIED TODAY, I am forced to insert the following disclaimer into my posts from now on as this nonsense cannot go on any longer, and members of main st need to know some fundamentals which most probably are unaware of:

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DISCLAIMER: Last I checked a few weeks ago, S and P 500 was on a P/E ratio of 10 times earnings, and DOW was on around 100 times earnings (No seriously.) Since this time I have not been able find current DOW and S and P 500 P/E ratios anywhere ON THE WHOLE INTERNET or anywhere else, as I believe media is trying to bury it as they understand the gravity of publishing those figures.

So until someone posts a reply to me where I can find a site that gives that accurate up-to-date data for free on DOW/SPX PE ratios, I am going to include this disclaimer in every one of my posts from now on to prove how ridiculously over-valued USA stock market is, considering current depression occurring and worsening each and every week.

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