Bad Data When joining in day trading futures platform, besides necessary skills or day trading techniques, traders and investors need supportive information to guide their work in right ways. Understanding that, Larry Levin known as an expert on the floor traders keeps sharing Larry Levin’s blog with helpful news to any of you who cares. The topic we are going to learn is :

Thursday’s market was hammered when the bad economic news just keeps on coming. Consider the Philly Fed Business Outlook, which clearly suggests that the U.S is already in recession.

The survey’s broadest measure of manufacturing conditions, the diffusion index of current activity, decreased from a slightly positive reading of 3.2 in July to -30.7 in August.

Since March 2009, the index is now at its lowest level. The demand for manufactured goods, as measured by the current new orders index, paralleled the decline in the general activity index, falling 27 points.

The current shipments index fell 18 points, and recorded its first negative reading since September of last year. Suggesting weakening activity, indexes for inventories, unfilled orders, and delivery times were all in negative territory this month.

Firms’ responses suggest a deterioration in the labor market compared with July. The current employment index fell 14 points, recording its first negative reading in 12 months. About 18 percent of the firms reported an increase in employment, but 23 percent reported a decrease.

The percentage of firms reporting a shorter workweek (28 percent) was greater than the percentage reporting a longer one (14 percent). The workweek index fell 9 points.

Trade well and follow the trend, not the so-called “experts.” Behold the age of infinite moral hazard! On April 2nd, 2009 CONgress forced FASB to suspend rule 157 in favor of deceitful accounting for the TBTF banksters.