i am thinking that whoever cooked up the job report has done a perfect job. 1) report slightly beat expectations (if adjusted for lower census workers) 2) Jan and Feb were revised higher, so there is evidence of sustainability of job growth 3) there are always some negatives if one dig into the numbers i am sure (i am not an expert on job reports) but 2) compensates for any negatives so, to summarize 1,2 and 3) add up to a report which is while positive still does not give Fed any reasons to raise rates. The Perfect Job Report! what goes for the Shorts is an overextended market and "sell the news" phenomenon. if we put everything together than a likely outcome is a gap up followed by a muted sell-off on Monday.
The Street.com poll is very bullish: too many chocolate bunnies? Total Votes: 433 votes 1 What would best describe your stance heading into the coming week of trading? Bullish 59.35% 257 votes Bearish 29.56% 128 votes Neutral 11.08% 48 votes http://www.thestreet.com/stock-market-news/10603675/poll-bull-or-bear.html?kval=dontmiss The contrarian in me screams: "Sell, Sell!"
good news, market goes up bad news, market goes up catastrophic news, market goes up end of the world, market goes up
Uncle Ben wonât let us be contrarian and sell short. The feds current mantra is spewing out money a billion an hour. Their slogan is now âBubble Ben says â Do it again!â So I add to my longs.
the sad truth the headlines sound pretty optimistic. getting the public excited over the weekend, then shorting the gap up is the game plan of the big money for Mon. Employers Added Most Jobs in Three Years in March ‎2 hours ago‎ - Wall Street Journal U.S. adds 162000 jobs in March, many from Census ‎5 hours ago‎ - Bizjournals.com U.S. Creates 162000 Jobs; Unemployment Rate Holds at 9.7% ‎6 hours ago‎ - FOXBusiness Job Market Brightens as US Payrolls Surge in March ‎6 hours ago‎ - New York Times Payrolls rise 162000, best gain in three years 6 hours ago‎ - MarketWatch my favorite headline: Jobless Recovery? That Didn't Last Long Wall Street Journal - Kathleen Madigan - ‎1 hour ago‎
according a market related story: "Report says too many grizzly bears killed in unsustainable B.C. trophy hunt" http://www.google.com/hostednews/canadianpress/article/ALeqM5h8-ZFrxV67mRuqozEqEDX0PSt5OA to this i may only add that not only in B.C.
i am looking at various rallies in the past trying to see where we may fit it. i want to find rallies that are of comparable duration and strength to the one we are in and see how far the rally may extend before ~4% correction. for the table i went back from 2010 eyeballing the charts. the table is not meant to be comprehensive and i only went to 2007 so far. based on the few samples so far, i conclude that we are in a very strong rally that maybe close to running its course (based on age of the rallly, %gain and consecutive +weeks for major ETFs). no guarantees of course, since one can always point to a stronger rally than we are in. but think about all those rallies that failed to be as strong as ours to appreciate the uniqueness of our current situation.
they would not return my call, bastards... but if i had to speculate, they went short the moment they heard about the secret Fed meeting on Mon.