The daily technical composite came back to neutral yesterday (back to 0), cancelling it's sell signal. However, in a bear market we can expect a swing to +28 before the first decent rally:
Friday, May 7, 2010
5/7 9:30
Gold is down $12 this morning, signalling an easing of the crisis mentality. However, 3-month Libor rose to .428%, a .05 uptick signalling the crisis continues.The jobs report came in at 290k, 224k minus census workers. Revisions upward as well. Rate came in at 9.9% and U6 up as well to 17.1%. Long-term unemployed at record 45.9%. So, stim creating cheap jobs but not building good jobs. Still, manufacturing added 44k. Not a bad report. If the market were looking backward it would rally on this one. Instead it declined. Verdict? The world will hand us a knuckle sandwich in the future reports. I am now at 15% SDS average price 32.72.
The daily technical composite came back to neutral yesterday (back to 0), cancelling it's sell signal. However, in a bear market we can expect a swing to +28 before the first decent rally:
The daily technical composite came back to neutral yesterday (back to 0), cancelling it's sell signal. However, in a bear market we can expect a swing to +28 before the first decent rally:
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