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FreeMarkets (89.97)

Futures Ignore Jobs Data

Recs

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September 01, 2010 – Comments (7)

The stock market, which we know by the volatility, can't seem to figure out which data point to hang their shirts on.  The market is ignoring manufacturing data, spending data, housing data and is now ignoring jobs data.  Todays surge is based on a stronger data from Australia and China.

How much of China's/Australia's growth will be met by their own production or the production from country's OTHER THAN the U.S.? How much of the U.S. economy is based on exports to those two country's? 

This is a suckers rally if ever their was one.  A chance to close all your long positions if you haven't already done so.

 

7 Comments – Post Your Own

#1) On September 01, 2010 at 10:15 AM, FreeMarkets (89.97) wrote:

The questions above are rhetorical.

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#2) On September 01, 2010 at 10:25 AM, russiangambit (29.32) wrote:

> How much of China's/Australia's growth will be met by their own production or the production from country's OTHER THAN the U.S.? How much of the U.S. economy is based on exports to those two country's? 

Actually, the coporations were able to show good earnings exactly on foreign profits and sales. In the US they are more in the survival mode - cut cost and preserve the margins. Thus as long as SP500  companies  can show earnings from somewhere, US can go to hell in the handbasket and these companies will be doing just fine. Actually, that might eventually lead to the US revival if the crisis lowers the labor costs siginificantly and leads to more streamlined tax code.

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#3) On September 01, 2010 at 11:51 AM, mtf00l (48.27) wrote:

@russiangambit

I've been told of my "rosy" prognostications before and now I see you have one.

" Actually, that might eventually lead to the US revival if the crisis lowers the labor costs siginificantly and leads to more streamlined tax code."

This would mean an end to executive pay and that will likely never happen.  Those who have the gold make the rules. 

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#4) On September 01, 2010 at 12:59 PM, pennystockguy (73.40) wrote:

Multinationals will continue to rally... until the rally stops.  I don't think this is a one day rally, we shall see if it breaks the 50 day on the S&P

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#5) On September 01, 2010 at 7:28 PM, FleaBagger (28.16) wrote:

This was based on news from China? Huh. I wonder why my Chinese stocks were flat today.

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#6) On September 01, 2010 at 11:55 PM, BearishKW (< 20) wrote:

I think US equities are trading very precisely in line with the data.  Stocks trade on future data, not so much the present.

When the bad jobs/housing/whatever numbers inevitably come out each week we trade down a percent or two...but more importantly is that following that session we tend to trade UP.

Unemployment/housing/doom and gloom numbers are no longer drastically changing the markets for the worse.  They're levelling off.

I think there is continued upside for the near future or, worst-case, we are range-bound.  The next big drop comes when we start dealing with the increased government spending.  But that's a simple issue compared to housing and employment. 

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