Job Loss (D)eceleration Day!
Friday = D-Day.... Where DOW goes to either 6250 or 7000 in a single trading period.
Given that the news wasn't too bad... in fact... the news was "JOB LOSS (D)eceleration."
December #s revised 680,000+
January #s revised 655,000+
February #s 651,000+
Ok.. Definitely not a rocketship.... But hey.... 3 months of DOOM and GLOOM and we are nowhere near 9% unemployment.
8.1% unemployment simply means that the DOW is unjustifiably low. It should be hovering around DOW 7000 and I think Wallstreet will park it there today. hey... yes... need a 400+ point climb... I know... Impossible? Not quite... We did it last year!