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That is so not true for anyone with a conscience. I know that for a fact. I was there. If anything, it feels worse than losing your own money.

 

True. But how many people in the money management business have a conscience? Consciences seem to be as rare as hen's teeth in that particular field. Except for the consciences that tell the money managers how proud they should be of "doing God's work", despite the fact that they are losing their clients' shirts, shoes, and underwear-- not to mention robbing the U.S. taxpayer blind when they demand and get their bailouts, that then pay their bonuses. Meanwhile, Joe6pack becomes unemployed, due to the financial crisis instigated by the doers of God's work.

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Deconstructing The “Massive Beat” in Employment Data

 

Did you see this? http://www.zerohedge...ion-past-2-mont

 

Just watch the first minute if you don't want to watch it all.... aren't you tracking the same thing? yet 2 different conclusions? not criticizing just asking if you are looking at the same thing.

 

Yep.

 

I got a spreadsheet error.

 

Actual CES month to month decline was 2.7 million, which was better than the last 5 years. The analysis was correct, but I set up the spreadsheet wrong. Ooops.

 

I have corrected the report

 

 

Deconstructing The “Massive Beat” in Employment Data- Corrected

 

but unfortunately won't be able to correct the report in Minyanville. Not sure about ZH.

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David Stockman sent me this note:

 

Let's just call it seasonally adjusted noise. The January change overprior month not seasonally number for 2010 was -2,869k and this led

to a -40k drop in the reported seasonally adjusted job number. For

2011, the unadjusted drop was virtually identical at -2,858k and that

led a reported seasonally adjusted increase of 110k jobs. And this

January the unadjusted drop was -2,689k and the reported seasonally

adjusted gain was the headline 243k number. In sum, the change in the

January unadjusted number between 2010 and 2012 was180k but the

seasonally adjusted gain was about 283k----or by exactly the 100k

"surprise" amount. The BLS seems to have been scrubbing its seasonals!

 

 

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The "Deconstructing" piece has gone viral. 7 pages of links on Google. 10,000 views on ZH already. This one could beat the piece on David Stockman that I wrote back in December that had 28,000. I think that was the top contributor post on ZH that month. Would like to set the record for Feb too. But what would be really nice would be if those 28k people came to the WSE every day. Then I could relax a little.

 

I kid you not. This business is a motherfrickin struggle to stay alive every single minute. It's not for old guys like me, but I got the spunk to do it till I'm 85, out of spite if nothing else. :lol:

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I'm glad I dumped puts on the backiss to 1300. :blink: Offsetting that, at least, were other puts from 1332 down to 1313. After that, my only market move of the week was raking in obligitory profit on the natural gas obligatory double bottom bernce. Went with HNU in Toronto for the leverage. $4.20 fill at the open and sold for 4.71 and 4.59.

 

Other than that, hey, how about that small crap stuff. Lookey thar. Bombs away!

 

I bought SPY puts 5 minutes before the close on Friday. 135's and 134's.

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