It does not sound right

News. NEW YORK — Stocks surged Thursday after China reassured investors it doesn't plan to sell any of the European debt it holds.

The Dow Jones industrial average surged more than 280 points by late trading, while Treasury prices tumbled as traders pumped money into stocks.

My point. In the good old days stocks would rise if economic news and companies' valuation were positive.

Now the markets ignore, or seem to ignore, the hard facts and react instead to what various governments around the world are saying about their role in the market place.

It is not healthy. It does not sound right.

George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
Ranked Top Market Timer in 2009 and 2010 by Timer Digest

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