The unemployment rate is at 8.1% and the number of unemployed people has reached 12.5 million, an all time record. The number was dismal but futures are up slightly-baked in? We'll probably have a better picture starting at around 2:30 PM. I could easily make the case for an implosion today and a complete capitulatory move on Monday (what I would love so we could start moving forward), or a huge rally today courtesy of short covering and massive quantities of cash on hand.
I will be posting my moves on Twitter, and as my Dad used to say, "it could go either way." Gun to my head-I'd bet long today. If the shorts are as exhausted as me, we could see a sweet rally. Good luck.
Showing posts with label unemployment. Show all posts
Showing posts with label unemployment. Show all posts
Friday, March 6, 2009
Unemployment at 8.1%
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.
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About Me
- upsidetrader
- 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.
