Friday, December 5, 2008

Unemployment Day

It's unemployment day and that is all the market will be watching. It will be very interesting to see how we react to any number at this point. Unemployment is currently at 6.8%, I think it tags 9-10% over time. Futures are off slightly as we wait. I think any rally will be sold aggressively.

Interesting how the sabre rattling has begun with Israel and Iran and oil just keeps going lower.

7 comments:

psy said...

ugly ugly numbers...

GS751 said...

"i'll take one double short oil, half dozen ultra short financials and one sort S&p please" That twitter comment made my morning.. lol

upsidetrader said...

lol glad u liked it

MarshalN said...

And we're up 250 points for the day....

Did I miss the memo about -533k jobs being bad news for the economy?

upsidetrader said...

marshall
i missed memo too but didnt really trade much-i believe volume was moderate-could go a little more but will retest lows i still believe

Mberenis said...

I'd like to Post a Comment

Due to the recent bailout, there has been a huge increase in government grants to prevent foreclosure. Most people don't realize it, but there is more money available than what you think. It's been proven that 9 out of 10 people have no idea how much government money they qualify for.

Research Foreclosure Grants

upsidetrader said...

mb
maybe but if you lost your job orgs. like "hope now" cannot help u and u cannot qualify for mortgage modification, u will be out of luck and forclosed on,the temporarily unemployed will still lose their homes

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I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.