Friday, February 5, 2010

Confusing Employment Numbers from Government, the Stock Market Drops Another Day

The market is not believing the government numbers today. January unemployment number "unexpectedly" dropped to 9.7%, but the country lost another 20,000 jobs at the same time.

Yeah right.

The latest adjustment to the Birth/Death model added over 1 million job lost on top of 7.2 million job loss since the recession started in December 2007. Now the total job loss since December 2007 is $8.4 million, the highest since World War II.

The model was off by 13%, and the government has no intention of abandoning it. Why? Probably because it is highly manipulative to suit their changing needs.

The U.S. major stock indices, after the bottom fell out yesterday, cannot even sport a DCB (dead cat bounce). Dow is currently down 135 points to 9,865. Goodbye, Dow 10,000. It is going to be a huge overhead resistance, coming from below (if that ever happens).

I should have gotten "Dow 10,000 2.0 Hat" from NYSE. Maybe I will still do, as a sentimental memento. For I am not so sure if the version 3 ever happens.


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