Look, (36,000) BFD! what's the total unemployed? Like 17 MILLION. We're cheering 36k like that is signaling some sort of "turn". What a joke the whole reporting process is. Bottom line is we have to trade the market for what it gives us. No one (outside the government) is going to hire anyone anytime soon. Not happening. These people on CNBS are living in fantasy land. None of this is terrific. Getting bettter? Where the hell do they think they are going?
From Phillip Davis at Seeking Alpha in his post Thursday Preview: Consumers Still Unemployed, But Shopping "They’ll tell you it’s up 10 points from January without mentioning that January was the worst month of the past 12 and, in reality, we are up just 2 points from last February when the shockingly poor data we were seeing sent the S&P all the way to 666 the next month. Today, though, it is considered a reason to rally as people watching the MSM will believe anything the talking heads tell them because they don’t get shown the actual results and they trust their talking heads to have checked the facts carefully, rather than make them up, which is pretty much what they do."
SPX weekly - We all know the daily chart is overbought and the 60m is headed south. Just look at the strength in the weekly chart and heed it.
Sorry for the lame post, but I am in a meeting and typing sporadically. I'm still holding some SDS anf FAZ shorts.- LOL - well - I was.
