Jobs report is overhyped

Discussion in 'Trading' started by detective, Mar 7, 2008.

  1. The jobs report is always revised and error in the number is huge. Unless you get an apocalytic number or a huge boost in jobs, the report is meaningless.

    The trend is down. We had the upside breakout fakeout last week and now we resume the downtrend. The next bump in the road is S&P 1270, where there will be a battle between bulls and bears.
    Stocks aren't cheap enough for the bulls to make a lasting stand.

    Now there are rumors of an emergency Fed rate cut. The bulls are pulling out all the stops to prop up this weak market. More bloodletting until we see capitulation, where people are not hiding out in energy, materials, and commodities and sell everything for King Cash.
  2. totally agree. it's just a tool for short term manipulation.

    the number shouldn't be published until the "revisions" are determined
  3. cnbc comes out with a market saving runor at least twice a week. its getting old.
  4. Looking at price action, looks like people are leaning towards a bad jobs report, and there will probably short covering with whatever number comes out short of a disaster. Watch for the short squeeze at 8:30 et on a jobs report which comes in within expectations.
  5. Fisher was on Bloomberg this morning saying there will be no inter meeting cut. He also told the market not to get used to the idea that the cuts in January will be repeated.

    Fisher is the only one at the Fed who gets it.
  6. Arnie


    Look like it's gonna be a really bad #
  7. Jobs number is huge if you are a trader..........look what just happened..........the fed knows what is coming.

    maybe i made enough to buy a new husband in last few minutes .. :p
  8. not overhyped when we lost 65k jobs. these numbers move markets on extreme numbers. this was an extreme number.
  9. jjf


    you gay guys make me laugh.
  10. Losing 65k jobs is not an extreme number when you look at the expectations. I think the low for the day will be in the first 30 minutes of trading. Classic gap down and panick out weak longs and take em back higher to fill the gap.
    #10     Mar 7, 2008