I'm actually looking forward to earnings season kicking into full gear in about a week. In this market, where the constant threat of more "easing" acts as a permanent source of helium for equities, it's nice to actually get some fundamental data and reality back into the picture, at least to see what's genuinely going on with the companies on which stocks are based.

Zynga is providing a bit of fireworks after hours, since they lost about 20% more of their value, pushing to new lifetime lows. This will yield a drop of about 86% from its high last March, which is, let's face it, pretty stunning. One wonders if Zynga will be around in a year or two.

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Data released today shows that the total number of new Factory
Orders dropped to its lowest reading since March of 2007, as shown on the graph
below.

This manufacturing data is not supportive of a sustainable rise in the equity
markets; however, the markets seem to have their own agenda, regardless of the
fundamentals of this sector within the slowing economy. A slowing demand for the
"same old stuff" is just that…a slowing demand, regardless of how much money
becomes available for borrowing by the masses. At some point, rising markets
without supporting fundamentals, partnered with new, attractive, innovative,
useful, and beneficial products/services with "needed and must-have" value,
become a ship without a captain.