to see the daily DJIA chart.
posted on 10/07/2011 2:21:45 PM PDT
posted on 10/07/2011 2:24:07 PM PDT
((Deliberate Cruelty Is The Worst Of Human Offenses - Kenko))
More signs that the U.S. economy is not as bad as everyone thought.
OK, it's time we put this lie in its place: it doesn't matter how much "better" the economy is doing (and I certainly take exception to the claim) -- what matters is how the pie is being divided: to union and government employees and pensioners.
Don't tell the rest of us that "the economy isn't as bad" as we know it is.
posted on 10/07/2011 2:24:59 PM PDT
by the invisib1e hand
(...then they came for the guitars, and we kicked their sorry faggot asses into the dust)
If you take the 60k expected jobs and add to that the 45k Verizon workers who returned to work after their strike you get 105k. Subtracting the unexpected 45k jobs from the 103k you get 58k jobs, less than the 60k expected.
posted on 10/07/2011 2:29:45 PM PDT
To: blam; Envisioning; waterhill
Stock tanks are what I water my cattle in, though they are pretty low right now due to the drought. (Yes, I live in Texas).
posted on 10/07/2011 2:31:32 PM PDT
(You live and learn. Or you don't live long.)
First, the scoreboard:
S&P 500: -10
With all due respect, I don’t think -18 is a “Tank”
posted on 10/07/2011 2:33:48 PM PDT
("If you think healthcare is expensive now, wait till it is free"--PJ O'rourke)
The whole rally this week was generally BS, materialising after Dexia in Belgium made a (mostly) honest report that they were going into the sewer, and the banking boffins in Wonderland announced that they were working on a plan to have a plan that planned to plan a way out for Dexia. There is, of course, no such plan, just a lot of spit and jawbone.
Effectively, the rally in US shares was a short squeeze in front of option expiration. And it just ran out of steam (and new buyers) with 20 minutes to go in today's session.
Do please note that Shapiro, of the IMF no less, said that without a credible plan, it could be SHTF in Wonderland within 3 weeks' time. This is all the more remarkable a comment because, if a meltdown does really occur, the IMF are fapp out of business (not exactly a bad thing, given their atrocious track record over the past 40 years).
Have fun next week, traders. I'm delta short the Fishwrapper and intend to write OOM SP Oct 14 calls next week. About a 1.4% return on capital on what is a VERY low-risk trade. Be alert for an opportunity to buy VIX lightly, probably the Dec or Jan calls. This is a "just in case" trade; just in case the SHTF in the next 5-6 weeks in Wonderland, there is effectively no upper limit for VIX in the short term. In 2008, for example, VIX hit 82 during the crash; spot VIX is right now 36. Think about it. Good trading to all!
posted on 10/07/2011 2:34:25 PM PDT
(What is the next tagline some overweening mod will censor?)
If you need to know you would have been advised yesterday.
posted on 10/07/2011 2:52:00 PM PDT
(Slower traffic keep right)
"But, big downgrades in Europe bring us back to reality...Italy and Spain."
Well, their pre-default acquisitions of Argentina's politics, resources and manufacturing aside, they are important tourist traps. Oh...and Italy's status as main trading partner of Iran.
Why, by interweaving our destiny with that of any part of Europe, entangle our peace and prosperity in the toils of European ambition, rivalship, interest, humor or caprice?
Nothing is more essential, than that permanent, inveterate antipathies against particular Nations, and passionate attachments for others, should be excluded...The Nation, which indulges towards another an habitual hatred, or an habitual fondness, is in some degree a slave. It is a slave to its animosity or to its affection, either of which is sufficient to lead it astray from its duty and its interest.
posted on 10/07/2011 2:54:00 PM PDT
("Don't worry, they'll row for a month before they figure out I'm fakin' it." --Deacon, "Waterworld")
posted on 10/07/2011 2:55:47 PM PDT
(ruling class dem + rino progressives -- destroying america for 150 years.)
And the 0bama machine will take credit for a “miraculous recovery” when the economy continues on its actual course next year. It’s all spin.
posted on 10/07/2011 3:16:23 PM PDT
20 points is not “tanking.”
posted on 10/07/2011 5:03:21 PM PDT
(Read Hazlitt's "Economics In One Lesson.")
U.S. companies added 103k non-farm payrolls. Economists expected just 60k.
And the "experts" were right... You know the old saying, "Figures never lie, but politicians lie with figures."
About 40,000 of those "newly employed" are CWA workers going back to work at Verizon when the strike ended. So more than 1/3 of those jobs supposedly added were people who were voluntarily unemployed.
posted on 10/07/2011 7:23:41 PM PDT
(Do I really look like a guy with a plan?)
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