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thekubiaks
Posted : Wednesday, June 02, 2010 6:41:02 PM
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Joined: 2/13/2005
Posts: 368
Since Obama and Biden have both come out and said the jobs report will be a good one and the BLS is going to revise the birth/death model to show ~ 400K to 500k new jobs from thin air, how do we play the market?????   There is also a story I just read about firing and then rehiring census workers to show new jobs created.  The smart guys I talked with know the 700K+  report on Friday is cooked bigger than Dallas but would you still position yourself for a big UP day????  or should I anticipate a Bull trap and short around 10 AM???  This will be an interesting day for sure............
funnymony
Posted : Wednesday, June 02, 2010 8:10:03 PM

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Joined: 2/5/2006
Posts: 1,148
seems economic news hasn't really mattered lately, anyway.

the market is usually way ahead of these numbers, and will digest them accordingly.

i wouldn't be making any big bets one way or the other because of labor statistics.


realitycheck
Posted : Wednesday, June 02, 2010 9:01:32 PM
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Joined: 9/25/2007
Posts: 1,506
QUOTE (thekubiaks)
There is also a story I just read about firing and then rehiring census workers to show new jobs created.


I read that .... Census workers claiming that they are being hired and layed off as many a four times per month ... so that they can be reported as 4 new hires ... since BLS guidelines require that they only have to work ONE HOUR in a month to count as a new job ...

But don't worry ... I'm sure that now that the White House has taken control of the Census from Commerce ... they would dream of cooking that data ....

allenbary
Posted : Wednesday, June 02, 2010 11:34:52 PM
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Joined: 10/26/2005
Posts: 238
Trade the chart not the news
diceman
Posted : Thursday, June 03, 2010 4:03:41 PM
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Joined: 1/28/2005
Posts: 6,049
First 2 day rally since April.



Thanks
diceman
ben2k9
Posted : Thursday, June 03, 2010 6:21:27 PM

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Joined: 7/1/2008
Posts: 889
IBD declared the correction over yesterday
funnymony
Posted : Friday, June 04, 2010 12:07:40 AM

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Posts: 1,148
sounds like expectations are for a great report,  and anything less will be a disappointment, although other "more reliable data" suggests otherwise.
thekubiaks
Posted : Friday, June 04, 2010 6:46:19 AM
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Joined: 2/13/2005
Posts: 368
We need Becky Quick and Erin Burnett to put on their Cheerleaders outfits and the rest of the guys need to put on their chef hats.  Get the ovens started, it is time to start cooking :)

It is interesting that futures are flat, everyone knows the numbers are going to be high...  Wouldn't that be a hoot if they have a 700K+ number and the market sells off (which I think it will).
thekubiaks
Posted : Friday, June 04, 2010 7:03:10 AM
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Joined: 2/13/2005
Posts: 368
We need Becky Quick and Erin Burnett to put on their Cheerleaders outfits and the rest of the guys need to put on their chef hats.  Get the ovens started, it is time to start cooking :)

It is interesting that futures are flat, everyone knows the numbers are going to be high...  Wouldn't that be a hoot if they have a 700K+ number and the market sells off (which I think it will).

I almost forgot to fire up the CNBC Animal Orchestra..... they got them going too. 
funnymony
Posted : Friday, June 04, 2010 9:13:27 AM

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Posts: 1,148
lol. futures -200. good job obama.
traderm30
Posted : Friday, June 04, 2010 9:39:58 AM
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Posts: 235
400,000+ jobs coming from census workers! LOL! Great and mighty Obama, way to get those jobs moving!
traderm30
Posted : Friday, June 04, 2010 9:40:39 AM
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Joined: 1/12/2009
Posts: 235
Worst &$&@ president ever. Time for some more golf.
realitycheck
Posted : Friday, June 04, 2010 12:28:50 PM
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Joined: 9/25/2007
Posts: 1,506
QUOTE (traderm30)
400,000+ jobs coming from census workers! LOL! Great and mighty Obama, way to get those jobs moving!


Put the data in perspective ....

There's about 150 million households in the US ....

IF no one mailed in their Census forms ...

IF these 411,000 Census workers were the only ones hired ...

IF each Census worker knocked on only 5 doors per day ...

They could knock on every single door in America in less than 11 weeks ...



ben2k9
Posted : Friday, June 04, 2010 8:38:00 PM

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Joined: 7/1/2008
Posts: 889
there's been no recession in the public sector!

for once ever, public employees make more than private sector!
Apsll
Posted : Sunday, June 06, 2010 12:27:34 PM

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Joined: 3/21/2006
Posts: 4,308
Here is a comparison chart that might give some clue as to where we stand right now.

The May 2006 correction vs now.....

thekubiaks
Posted : Sunday, June 06, 2010 4:50:38 PM
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Joined: 2/13/2005
Posts: 368
I'm thinking that Monday, the futures are going to be down, the little guys are going to resume their panic selling down to about 1050 on the S& P and then the big guys and the PPT are going to hit the market with both barrels finishing the day up 250 points....   No way the PTB (powers that be) are going to let the market tank while there is ink in the printing press.
thekubiaks
Posted : Monday, June 07, 2010 4:05:23 PM
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Joined: 2/13/2005
Posts: 368
QUOTE (thekubiaks)
I'm thinking that Monday, the futures are going to be down, the little guys are going to resume their panic selling down to about 1050 on the S& P and then the big guys and the PPT are going to hit the market with both barrels finishing the day up 250 points....   No way the PTB (powers that be) are going to let the market tank while there is ink in the printing press.


I go the S&P at 1050 right today but no PPT??   I had someone look into it and it turns out that the ink truck that was supposed to unload today at the Fed printing presses detoured to a strip club.  The drivers were fired (of course).  We should have the presses going again tonight.  Rally tomorrow.
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