Guest Posted April 2, 2004 Report Share Posted April 2, 2004 Ok, we all knew the employment report were bullsh*t Here is this weeks layoff report for week ending 4/1/2004 from HRLive http://www.hrlive.com/layoffs.php A quick tally shows new permenant layoff at 26,875 for this past week almost double the amount the week before. Link to comment Share on other sites More sharing options...
brian4 Posted April 2, 2004 Report Share Posted April 2, 2004 we are now at the stage of the Bear-where Sir Al can't do squat with out sacrificing something else. Shrub got his phoney job report and bonds blow-up. The Bond blow-up will have far reaching repurcussions. Link to comment Share on other sites More sharing options...
thesun Posted April 2, 2004 Report Share Posted April 2, 2004 paas closed at about .94 cents up what can greensin do against silver. greensin is now in a react mode. Link to comment Share on other sites More sharing options...
flockofsheeples Posted April 2, 2004 Report Share Posted April 2, 2004 While I'm not sure of the exact defintion, it may be as little as 15 hours a week in an activity counts as employment. I'm a websurfer then...Where do I get my check? Link to comment Share on other sites More sharing options...
Madame Wrecked Him Posted April 2, 2004 Report Share Posted April 2, 2004 While I'm not sure of the exact defintion, it may be as little as 15 hours a week in an activity counts as employment. I'm a websurfer then...Where do I get my check? It looks like 300k additional part-time jobs were included in today's report, which coincidentally equals the total number reported. "It is too early to celebrate," said Sung Won Sohn, chief economist at Wells Fargo in Minneapolis. He noted that most of the increase was because of part-time workers. The number of people who worked part time for economic reasons rose to 4.7 million in March, up from 4.4 million the previous month. What kind of jobs were added? Link to comment Share on other sites More sharing options...
stained jeans Posted April 2, 2004 Report Share Posted April 2, 2004 That hurt. Glad I was short the Spoos and not the Qs. This rally started off anemically but volume has picked up the last three sessions as the bulls make their way deep into that overhead supply of bagholders. At this rate, they're going to turn the bagholders into geniuses. Again. I remain a bear which means I am toggling my account between shorts and cash. If I were a bull I would move between cash and longs. Hedged my shorts today, effectively putting me in a cash position. Frankly, looking at EWave and the oscillators, it is easier for me to come up with a bullish than it is a bearish interpretation of the sell-off and subsequent rally. A spike in the CBOE p/c ratio (in the absence of a bearish reversal) like we saw this week typically is followed by a quick move up in the Spoos of between 1.5 and 3.0%. That translates into 1148 to 1165. We saw 1145 today and maybe that's all she wrote but I don't think so. Link to comment Share on other sites More sharing options...
The End Posted April 2, 2004 Report Share Posted April 2, 2004 That hurt. Glad I was short the Spoos and not the Qs. This rally started off anemically but volume has picked up the last three sessions as the bulls make their way deep into that overhead supply of bagholders. At this rate, they're going to turn the bagholders into geniuses. Again. I remain a bear which means I am toggling my account between shorts and cash. If I were a bull I would move between cash and longs. Hedged my shorts today, effectively putting me in a cash position. Frankly, looking at EWave and the oscillators, it is easier for me to come up with a bullish than it is a bearish interpretation of the sell-off and subsequent rally. A spike in the CBOE p/c ratio (in the absence of a bearish reversal) like we saw this week typically is followed by a quick move up in the Spoos of between 1.5 and 3.0%. That translates into 1148 to 1165. We saw 1145 today and maybe that's all she wrote but I don't think so. Since this is a bear market rally, there are no real bullish waves. We have a whole bunch of ABCX waves. No telling where it will stop. IMHO. Keep an open mind. Link to comment Share on other sites More sharing options...
The End Posted April 2, 2004 Report Share Posted April 2, 2004 This is the second day in a row that the futures closed above cash. This normaly signals a top of some duration. We shall see. Link to comment Share on other sites More sharing options...
stained jeans Posted April 2, 2004 Report Share Posted April 2, 2004 Since this is a bear market rally, there are no real bullish waves. We have a whole bunch of ABCX waves. No telling where it will stop. IMHO. Keep an open mind. End, Last year at this time I didn't keep an open mind and rode my shorts up so high my nose started bleeding. As I said, I am still a bear -- just a more cautious one. I agree that, assuming this is a bear market rally, no telling where it ends. We know it will try the nerves and patience of the bears, though. At least I haven't developed a twitch twitch yet. Here's one possible destination... Link to comment Share on other sites More sharing options...
The End Posted April 2, 2004 Report Share Posted April 2, 2004 I still stand behind the thought that we don't break above 1175. If we do, we could go to 1254 and then the 1400's. I doubt it but, only because the market is closed at this time. Link to comment Share on other sites More sharing options...
The End Posted April 2, 2004 Report Share Posted April 2, 2004 The A/D line was not all that impressive today. 17-15. I piss on it. Link to comment Share on other sites More sharing options...
stained jeans Posted April 2, 2004 Report Share Posted April 2, 2004 We see 1175 and I'm off to Bullstool... Link to comment Share on other sites More sharing options...
wrecked him Posted April 2, 2004 Report Share Posted April 2, 2004 From SI <<it is probably reasonable to assume that most of today's knee-jerk market moves after the jobs report will be reversed. the devil is in the detail, or put another way, it's in the 'quality' of the report. 230,000 jobs added in health care and education, but ZERO in manufacturing? this sounds almost like a net negative for the economy at large ( i.e. no wealth creation )>> Adding health care jobs is indirectly inflationary. Again, paying more for those things that we need. Link to comment Share on other sites More sharing options...
stained jeans Posted April 2, 2004 Report Share Posted April 2, 2004 WH, That April 5 Gann lookin' like a potential top to you? Link to comment Share on other sites More sharing options...
machinehead Posted April 2, 2004 Report Share Posted April 2, 2004 From SI <<it is probably reasonable to assume that most of today's knee-jerk market moves after the jobs report will be reversed. the devil is in the detail, or put another way, it's in the 'quality' of the report. 230,000 jobs added in health care and education, but ZERO in manufacturing? this sounds almost like a net negative for the economy at large ( i.e. no wealth creation )>> Adding health care jobs is indirectly inflationary. Again, paying more for those things that we need. Prolly so. But look at the bright side, WH. It's not the WORST thing that could have happened. After all, we could have added 230,000 lawyers. Link to comment Share on other sites More sharing options...
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