I will probably reign in my long stops really tight by Friday open.
Jobs report is likely to disappoint.
HBB has used 3 day weekend for extended shenanigans. This rally could be over.
Going flat, except for some long term commodity/gold longs is a great way to enjoy this weekend methinks!
Steveo
I'm thinking along those same lines.
ReplyDeleteSorry to be crass but that is worse than saying the Easter Bunny or Tooth Fairy has disappointed. They are talking about 6,000 jobs out of 150M employed. That is 0.004%. That is truly irrelevant.
ReplyDeleteI see some "hot" sectors like the e-car stuff making a 34 month bottom right here, right now. That is Gann's number and it fits Marty's 8.6 (times 4) cycle as well. I am looking to go heavy speculative long this on "junk".
JNK is holding slightly above it's May highs at this point. It will break or fail here and this will be a key "tell" for the markets. I think this is a baby bull that plays Pampelona with the frozen perma bears out there and there are a lot of them.
I think that 6000 was just the increase in unemployment claims. So if someone can no longer get benefits, i.e. been unemployed for too long, they fall off this list.
ReplyDeleteMore likely we will see 100,000 jobs lost. And 60,000 of those are Government jobs, of which 115,000 are temporary census workers. WAIT that doesnt make sense, that mean the Gov created 55,000 new gov jobs --perfect timing to add "overhead".
But with the "birth/death" model we have to add like 180,000 jobs per month just to "break even", but we are losing 100,000. Hmmm.
Consider, Gov needs to show more pain to justify QE2 right before the elections. Right now not enough consensus, even Dabama may agree to let HBB drop the markets, to make sure he can get QE2 passed, and be a hero in his own mind.....who needs the stinkin' business cycle....that is so old school obsolete! Just print!