Both the ISM non manufacturing PMI and the Factory Orders m/m missed.
After little reaction SDS is back to what price it was when report came out. As someone said the reality is that it is all about the market because the economy stills sucks no matter how you manipulate the unemployment or employment figures. My goodness, I could lay off all my employees making 25 dollars an hour and hire 2x as many employees at 10 dollars and hour. This would put the employment picture up and I would make more money that I would write off in other ways. The result would be that the government gets less money in income tax but it says that the economy is getting better. These folks are laughing at the 98% all the way to the bank. Stay happy because soon folks are going to become unhappy and the terror will come from within.
SDS from 2009 has been one of the best shorts in the market. The implementation of government printed money has kept the financial system going. That money is continuing to come in. As long as it does it appears the market will continue up and SDS will continue down. Bernanke tossed out that he might even raise the amount of QE if necessary. GLTA