Market insights from Jersey Shore and their star, The Situation…

Market insights from Jersey Shore and their star, The Situation…

You guys know how often I point out that the mainstream media’s explanations for a single day’s action in the markets is usually rather insultingly stupid?

At least this reporter finishes her article with a punchline admission of what the real catalyst for ANF’s 10% decline today was.  It wasn’t the Situation’s style choice of this company that has the single most annoying, loud, obnoxious, dark, confusing stores on the planet getting killed in the markets today.  It was their report.  But you know, think about how many times you read that “The markets were down a fraction of a percent today because XYZ” where XYZ can be “worries of Greek contagion”, “possibility of Asian bird flu spreading”, “H1N1 concerns”, “(random, unimportant, meaningless, manipulated economic report like the ISM was weak)”.

Anyway, this is a funny, but insightful article when you think about it:

Abercrombie stock falls after ‘Situation’ newsBy Ann Oldenburg, USA TODAYUpdated 1h 34m ago

The hip clothing company said in a news release (publicity stunt?) Tuesday that it’s concerned that having Jersey Shore star Mike “The Situation” Sorrentino seen in its clothing could cause “significant damage” to the company’s image.

Abercrombie says The Situation connection goes against the “aspirational nature” of its brand and may be “distressing” to customers. The Ohio-based retailer says it has offered a “substantial payment” to Sorrentino and producers of the MTV show so he’ll wear something else, reported AP.

Sorrentino has yet to comment on the diss, but the court of public opinion seems to have weighed in. According to CNN, the stock price for Abercrombie & Fitch (ANF) had fallen nearly 10% at one point today. Granted, the dip could be a reaction to Abercrombie’s earnings report, also out today.


See you guys tomorrow.