rumor I hear is 100k+ on the NFP....
expectations are 40-75k?
I keep talking about dow 6k.... Ok, short of a depression, an obvious depression, or major disaster. we aren't going to 6-8k. and it's a short term phenomena if we do.
When you argue inflation at 10-20%... This means stocks have to go up by 10-20%, that they didn't go up that much last year.... Is very bearish.... it means negative stock gain last year. and 11500 and a 20% loss in stock with 10% inflation... is an amazing loss in asset value.
So calling for 8k or whatever, is stupid... not that it couldn't happen.
Stock goes up with inflation, since a shit dollar is the currency they buy, sell and are valued in.
Friday, February 1, 2008
morning
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2 comments:
Morning Eric,
ADP report show 130k increase in private sector as reported on Wednesday, so i wouldn't be suprised the nonfarm payroll would have +100k increment. However, recent rebound is just too fast. Besides, I think people should be rational - now sub prime has been spread to bond, car loan, student loan and credit card area, the bond bailout plan bought Dow up 200 points yesterday and I just wondered the power of bad news is good news.
Anyway, I don't have any trading idea today, any thoughts on your side?
Good Morning Melissa,
what a hellish trading environment.
I'm still very long financials, with the added expectations for more rate cuts... we could see some stregnth there.
-17k jobs.... damn
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