Green Shoots Update

With the DOW dropping 223 and with practically another .5 million jobs lost to the recession, its a green shoots are bad type of day. The silver lining lies in the fact that Wall Street is closed tomorrow. Consequently money managers have a long weekend to sober up and redefine recovery.

Another truth lies in the fact that the number of shares traded was very light, everybody is already on vacation. This light staff, light trading set-up tends to accentuate the bad news.

The DOW has steadily oscillated between 8,000 and 8,500 for several weeks now closing today at 8,280. It did go higher for a moment, but you had to look real quick.

Yes it is the worst recession of our lifetime, so far.

Reuters: Wall St sinks on bleak June payrolls report

"Quite frankly, rising unemployment is bad for the entire economy..."