Here is how I see it right now. Obama bailed out Wall Street gave a real sweet heart deal to Goldman thru AIG. Obama is down in the polls his handling of the economy had the biggest dropin most polls. So make no mistake this weekâs jobs report is going to be super duper. He can point to the rising stock market and the much better jobs report this weekend and tell the American people were on the mend. But in reality the falling dollar, and rising commodities are pretty much canceling out the phony rise in stocks. I trust nothing that comes out of Washington. But we must trade what we see and right now buying the dips is the only way to trade.
Pretty much agree on all fronts. Buying dips (if there are any) seems to be the way to follow the stupidity.
After the steller numbers come out tomorrow, take some money off the table during the futures moon shot after the release. Wait for the retracement to re enter.
This is so laughable. 550,000 initial claims, versus expectation of 580,000, which was obviously gamed high so they couldn't miss. 550,000 initial claims is extremely bad. On top of that, continuing claims GREW to 6.9 million. Moreover, "when emergency extensions of unemployment are included, the total rolls climbed to a record 9.35 million for the week ending July 18, the most recent data available. Congress has added up to 53 extra weeks of benefits on top of the 26 typically provided by the states." The way the government games these numbers, and plays right into the financial community's lap, is quite idiotic. Everything is designed to try and suck retail money into equity markets, at one of the very worst times for that to occur in American History. People who got a piece of this incredible and artificial rally should praise their G-d and cash out and not look back. Winter is coming. And it will be extreme in its bitter cold and length.
Don't you think savvy investors know all about the reality of the numbers? You cannot possibly think you're shedding new light on this topic. The market doesn't care.
Every dip is bought before it gets to any type of intra day support level. This shows how hungry fund mannagers are to have a better year.
I agree it's not good at all, goverments lies thru there teeth. These are traders getting in front of what we all know will be better news. The elections in 2010 are getting closer every day. By the time the news gets better is when everyone will know what I know now, and I can sell them my works. Only when it looks safe will average investors enter the market. T
What percentage is 550,000 of the total number of people still working? It could actually be worse than the 600,000+ initial claims of a few months ago.