What sort of #hallucinogenic drugs are traders on today. The rallying on "bad news is good news" mentality needs to stop. Examples below: -

1) China flash #PMI figures this morning at a 9 month low at 47.8 vs. 49.3 in July.

2) German growth rate virtually at a stand still with GDP data showing a pathetic 0.3% growth.

3) German PMI data indicating that private sector output fell at at faster rate during the month of August with the index standing at 47.0 vs. 47.5 in July

4) German services PMI reading slipped to 48.3 vs 50.03 in July

5) Eurozone PMI index showed a contraction for the seventh straight month, standing at 46.6 in August vs. a reading of 46.5

6) #Eurozone services PMI reading slipped to 47.5 in
August from 47.9 in July

7) Bank of China reported its slowest growth rate in three years quarter profit growth of 5.3% as Chinese banks grapple with rising defaults , weaker loan demand and narrower lending margins as a property slowdown looms.

8) Also the worlds largets mining company #BHP Billiton this week annouced around a 35% drop in annual profit as well as announcing plans to daley major projects as the commodity super cycle comes to halt. Also the CEO Mr Kloppers said he continues to see weakness in both the manufacturing and construction sectors.

9) Oh and Citigroup is out with a comment saying that Grexit may happen as soon as September.

$FXE $FXI $BHP $DBC $EUO $TLT

And after all this the market contiues to rally. Go figure.

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