May’s highly-suspect jobs report sparks a buying frenzy
by Adam Taggart
Chris Martenson’s Peak Prosperity
Mess with the bull and you get the horns…
That’s the continued lesson this uber-distorted market is beating into investors: Don’t doubt the rally; it will never end.
With hardly a down day in sight over the past several weeks, stocks continued higher this week and then positively *exploded* upwards upon the release of today’s “INCREDIBLE” (per Presidential tweet) May payroll report.
While the payroll numbers do indeed appear ‘incredible’ (meaning: ‘defying belief’) and seem destined for some pretty serious downward revisioning as economists parse through some very concerning assumptions and admitted errata by the BLS, the trading algorithms clearly didn’t care. The rosy headlines were a plenty good enough reason for them to ignite a stampede of the bulls and buy with abandon.