Shorts Skirts Mean A Better Economy

Stocks are soaring, mortgage rates are low. Both signs a bull market could be on the horizon, and some say it's all thanks to short skirts.

On the runways, and in the stores, hem lines are getting shorter and shorter.

"We started at the ankle and have gone all the way to a 15 inches right now," says Fashion expert Nicole Dickerson.

A common stock market myth says skirt length is an economic indicator. The shorter the skirt, the better the economy. The theory is based on history and silk stockings. In the 1920s, times were good and women were wearing shorter skirts to show off their silk stockings. By the time the 1930s and 1940s rolled around, economy tanked. Women started wearing longer skirts because they couldn't afford silk stockings anymore.

"I don't base anything on the length of women's skirts," says financial planner Neal Vasso. "Basing the stock market on skirts, is like basing it on the stars and I wouldn't recommend individuals doing that. Neal Vasso of American Express finacial planning says things have been good on the market this pass quarter -- but that a bull market isn't certain.

"There is a lot of mixed indicators like unemployment," he says.

Although the skirt theory is interesting, he's not sure it's sound. But he does say, if you're looking to invest, now may be the time. "

There have been some encouraging signs this last quarter -- the dow up 12 percent".

Michelle Mortensen, reporting.