Sold 2% SDS to get flat at 35.33.
Have not bought back yet, waiting for a little bounce. Will buy before close. Market broke the SPX support mentioned previously.
Sugar-coating is going on in media-land. Very little sugar in this jobs report. The stim has come off the rose, even with all of those census workers. Hourly earnings were up 7c though, so those that had jobs made a bit. The economy didn't even wait until the 2nd half to see through government spending to the desert beyond. It would be ironic if stimulus spending started having no effect due to it's dire long-term consequences. Could American business finally be thinking beyond the next 2 quarters???
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Steve
ReplyDeleteWait until you see this months housing numbers. They have fallen off a cliff.
Jack,
ReplyDeleteon a purely anecdotal basis, I would agree with you. We have had our house on the market for 5 months. We had fairly consistent looking once the winter weather ceased until the April tax credit expired. Since then, it has been totally dead. Oklahoma isn't exactly a bubble market either.
Cheers,
Charles