Wash and rinse day within the trend as indicated intraday.
The sharp downward reaction was attributed by the spokesmodel to the miss on the GDP report, at 2.2%, which had me choking on my coffee. I checked and it turns out he just misspoke.
He obviously meant the durable goods order number which came in at 2.2% rather than 2.5%. Durable Goods is notoriously volatile and means little. The third estimate of 4Q 11 GDP comes out on Thursday and is projected at 3%, and it *should* be a snore.
