The Problem With This Market

Yesterday, I spoke about how the bears were not pressing their luck and how that made me a little reluctant to call a bottom. If there were a decent short base this market would be flying on these Jobs numbers. I suspect we are starting to build a short base as bears are looking to short bounces but I don't think we are there yet.


PJ said...

Not sure why the market would be flying on these job numbers. In the household survey, if it weren't for 652,000 leaving the workforce, unemployment would have risen to 10.0%. The payroll data was roughly as I expected, a little more private jobs and more census layoffs than I thought, but nothing dramatic.

The key here though is that this was the last good report. Private payrolls are going to start declining in the next report.

Tsachy Mishal said...

Because the market was expecting a disaster and it was mixed, which is better than expectations.

Tsachy Mishal said...

I know the economists numbers were higher but I dont think that represents what the market was expecting.