A wide-eyed optimistic article on Yahoo Finance I saw earlier (3 hours ago) had a cute headline: "Unemployment Dips, Stocks Rip on Hiring Blip" (by Matt Nesto, Breakout). The writer should have waited till the session is over.
Dow Jones Industrial has traced back to unchanged, with 20 minutes left to trade in regular hours. No doubt there will be a sudden surge in the last few minutes, if not few seconds, but I could be wrong. (So I was wrong. The last pump has already started, with 15 minutes left to trade.)
For a reality-based analysis of the job number, I'd suggest Zero Hedge, here and here.
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5 comments:
The US unemployment data is about as reliable as Japan's sub 5% data. Neither reflect the current condition of the economy.
I'd suggest to pull up (in a PWR) the control rods a bit, or down (like in a Fuku-ing BWR). Or vice versa, depending on mood.
But I suppose the stock market is more like a CCDR (conspirative chaos driven reactor) than our beloved nukeys, which are quite predictable due to physical laws.
Guys like Jim Sinclair, Martin Armstrong, Mark Hanson are all invisible men but call these events months, something years in advance and could run the US economy blind folded including any housewife that balances her checkbook every month and have better success than clowns now in office.
Zero Hedge... the website that manages to predict everything and be right about absolutely nothing.
I am sure you have a zealous fan stalking out there.
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