Get as many new longs into the market and chase it higher, only to take their legs out when new shoes drop...Might as well let the bulls run. Glad I got out of my shorts. Would be an ass pounding this morning. Commence equity inflation all over again!
NFP and ISM coming out today. Could be a party pooper. Economic Releases 8:30 am EST - The Change in Non-farm Payrolls for January is estimated at +70,000 versus +14,000 in December. - The Unemployment Rate for January is estimated at 5.0% versus 5.0% in December. - Average Hourly Earnings for January are estimated to rise .3% versus a .4% gain in December. 10:00 am EST - Final Univ. of Mich. Consumer Confidence for January is estimated to fall to 79.0 versus a prior estimate of 80.5. - ISM Manufacturing for January is estimated to fall to 47.4 versus 48.4 in December. - ISM Prices Paid for January is estimated at 68.0 versus 68.0 in December. - Construction Spending for December is estimated to fall .5% versus a .1% increase in November.
Looks like someone big is really short and panicking out. No justification for this huge rise. The market will be an easy layup short in the coming weeks.
I agree. I will be surprised if the rally starts and gains steam...Like makolda said that # could cut the rally down...at least for today. Today,, could be a reversal of yesterday...Gap up and complete 180....I don't know or it gets out of control higher. Has to be a lot of nervous investors who want to bail on the long end and cash out. Anyone heavily short could get ass raped.