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IBDvalueinvestin (99.66)

Last Bad unemployment report just happened today, here is why:

Recs

4

November 06, 2009 – Comments (16)

October Nonfarm Payrolls -190K vs -175K consensus, prior revised to -219K from -263K

Prior was revised -44k lower, and today's numbers are lower than even the revised lower number. So we could easily have a revision down on today's numbers well below -175k next month.

Plus next month could get very close to being positive Payrolls as Holiday hiring  starts week prior to ThanksGiving.

 

Today's expected dip opening in the market should be very short lived and we should all take advantage of it, knowing full well that the job numbers have finally run their course.

16 Comments – Post Your Own

#1) On November 06, 2009 at 8:42 AM, castleinvestor (54.86) wrote:

I hope you are right. I dont see it happening though.

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#2) On November 06, 2009 at 8:48 AM, russiangambit (29.13) wrote:

Can't believe you see a green shoot in this report.

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#3) On November 06, 2009 at 9:10 AM, Rebkong1 (< 20) wrote:

and the delusions continue

 

 

wake up !!! we are headed for the abyss!! 

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#4) On November 06, 2009 at 9:11 AM, Rebkong1 (< 20) wrote:

and the delusions continue

 

 

wake up !!! we are headed for the abyss!! 

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#5) On November 06, 2009 at 9:38 AM, alstry (35.09) wrote:

It is NOT that we are headed for the abyss....it is simply a change in our economy.

How long do you think we can sustain a $2 Trillion dollar deficit to keep this charade going without destroying our currency???

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#6) On November 06, 2009 at 9:50 AM, Evlampius (< 20) wrote:

so basically moving from full time employees into tems hiring?? you think it's a good thing?? on top of that - unemployment benefits extention...

dude wake up!  /slap /slap

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#7) On November 06, 2009 at 9:52 AM, Rebkong1 (< 20) wrote:

we are definitely headed for a crash of monumental proportions alstry..if you want to phrase that as "change in our economy" so be it

 

but what you are about to witness to America is the greatest whiping out of wealth in the history of our country that will leave MILLIONS destroyed and if that's not an abyss i don't know what the hell is 

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#8) On November 06, 2009 at 10:00 AM, LBLAMPSONJR (< 20) wrote:

How are we to pay for all of the debt this administration keeps piling onto us with 1 out of 10 of Americans out of work?  We are in for a huge problem.  Fiscal responsibility needs to be adhered to in the goverment just like we have been forced to do at home.  Can't wait till election time.

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#9) On November 06, 2009 at 10:15 AM, leohaas (32.07) wrote:

Wow. I guess you should have expected these kind of responses from the perma gloom-and-doomers and political activists...

Keep up the good work!

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#10) On November 06, 2009 at 10:34 AM, IBDvalueinvestin (99.66) wrote:

All the negative sentiment means we are headed higher. Thanks for the confirmation guys, you are a great indicator to do the opposite.

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#11) On November 06, 2009 at 10:36 AM, park94 (< 20) wrote:

It's not that investors don't recognize the dangers it's just that many managers left the market so This stock market is manipulated by a few speculators right now, like Gold plz... what can you do with it, who sold people on the idea that it's safe? Can you buy groceries or gas with it? i doubt it, you'd have to barder it like anything else in that case. 

 As long as these stupid bubbles bolstered by a few dumb speculators and the gold monopoly who places any price on their own gold rock mines, the danger of bubble bursts will be present.

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#12) On November 06, 2009 at 10:38 AM, UKIAHED (35.86) wrote:

Something to keep in the back of you mind - 1Q10 the census dept will be adding almost 1 million jobs for the Apr 10 census.  Short term jobs - yes.  But it is work - and it will adjust the unemployment numbers quite a bit for a few months. 

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#13) On November 06, 2009 at 10:54 AM, UKIAHED (35.86) wrote:

  park94

like Gold plz... what can you do with it, who sold people on the idea that it's safe? Can you buy groceries or gas with it? i doubt it, you'd have to barder it like anything else in that case.

 

I'm not a gold bug - but I do own some.  Can I buy groceries with it? - yes.  I can stop by the local coin store on the way to the bank (or grocery store) and the owner gives me spot price in cash. No need to barter...  I can buy gold (and silver) from the same place.

As to the safety - I believe that history is the sales pich for safety.  50 years ago an ounce of gold was $20.  How much is that ounce worth today?  How much is that $20 bill worth today (in any currency)? 

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#14) On November 06, 2009 at 11:54 AM, russiangambit (29.13) wrote:

> All the negative sentiment means we are headed higher. Thanks for the confirmation guys, you are a great indicator to do the opposite

It is like we can do anything about the market is going. It is money managers who control the market, I think they were 91% bulls at the last survey.

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#15) On November 06, 2009 at 4:10 PM, IBDvalueinvestin (99.66) wrote:

Russiangambit don't put us down so fast, we control a large part of the market, alot larger than most will have you believe.

Think about it :

50k portfolio on average x 2M investors = $10B 

$10B is not too shabby and should not be taken lightly.

When that $10B moves it does cause the markets to change direction in one way or the other.

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#16) On November 06, 2009 at 4:15 PM, russiangambit (29.13) wrote:

> When that $10B moves it does cause the markets to change direction in one way or the other.

Well, there are entities ( which shall rename nameless not to promote conspiracy theories) which can put that much on a single trade.

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