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#16 Bungster

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Posted 07 January 2010 - 06:55 PM

This from the Big Picture...

http://www.ritholtz....gory/thinktank/

Initial claims remain subdued but little sign of hiring
By Peter Boockvar - January 7th, 2010, 9:04AM Initial Jobless Claims rose 1k from last week but was 5k below forecasts at 434k. Continuing Claims fell again, by 179k, but was 27k above estimates. This carries benefits thru 26 weeks but the extended benefit levels past this still remain very elevated so the people falling out of Continuing Claims are just being classified in a different group but are still collecting. Extended benefits (delayed by a week), including EUC, rose by 164k. Thus, while the firing trends remain subdued, more people are still claiming benefits because they haven’t found new jobs yet. In some states, people can collect up to 99 weeks of unemployment benefits.


Newsnoise... :unsure:
"It's tough to make predictions, especially about the future" Yogi Berra
"If you believe people are rational beings, you will go through life frustrated and confused" Scott Adams
"Don't dig the dialog of denial"
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#17 Drano

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Posted 07 January 2010 - 07:03 PM

Well of course firing has dropped off. There's no one left to fire.
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#18 Ags Nightmare

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Posted 07 January 2010 - 07:05 PM

This from the Big Picture...

http://www.ritholtz....gory/thinktank/

Initial claims remain subdued but little sign of hiring
By Peter Boockvar - January 7th, 2010, 9:04AM Initial Jobless Claims rose 1k from last week but was 5k below forecasts at 434k. Continuing Claims fell again, by 179k, but was 27k above estimates. This carries benefits thru 26 weeks but the extended benefit levels past this still remain very elevated so the people falling out of Continuing Claims are just being classified in a different group but are still collecting. Extended benefits (delayed by a week), including EUC, rose by 164k. Thus, while the firing trends remain subdued, more people are still claiming benefits because they haven’t found new jobs yet. In some states, people can collect up to 99 weeks of unemployment benefits.


Newsnoise... :unsure:


so basically they can report what ever they want to make it look better but its still sheet out there....I got a headache reading that
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#19 Bungster

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Posted 07 January 2010 - 07:06 PM

In IDS today TJ warned of googling "mangina"........I'm guessing a suitable synonym could be the "descending colon"? :blush:
"It's tough to make predictions, especially about the future" Yogi Berra
"If you believe people are rational beings, you will go through life frustrated and confused" Scott Adams
"Don't dig the dialog of denial"
"No, I don't know that atheists should be considered as citizens, nor should they be considered as patriots. This is one nation under God." George W. Bush

#20 DrStool

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Posted 07 January 2010 - 07:15 PM

This from the Big Picture...

http://www.ritholtz....gory/thinktank/

Initial claims remain subdued but little sign of hiring
By Peter Boockvar - January 7th, 2010, 9:04AM Initial Jobless Claims rose 1k from last week but was 5k below forecasts at 434k. Continuing Claims fell again, by 179k, but was 27k above estimates. This carries benefits thru 26 weeks but the extended benefit levels past this still remain very elevated so the people falling out of Continuing Claims are just being classified in a different group but are still collecting. Extended benefits (delayed by a week), including EUC, rose by 164k. Thus, while the firing trends remain subdued, more people are still claiming benefits because they haven’t found new jobs yet. In some states, people can collect up to 99 weeks of unemployment benefits.


Newsnoise... :unsure:


An absolute load of intolerable crap. I will explain in detail in the Radio Free Wall Street podcast to be posted in about an hour.

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#21 psyche doctor

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Posted 07 January 2010 - 07:21 PM

Below is an excerpt and a chart from an article submitted by EB on zerohedge.


"With markets always in flux, it is important to not only be aware of sector rotation, but of time rotation. As we have demonstrated previously, trends emerge as to which time of day is best to be long or short. In light of a recent Bespoke Investment Group study regarding bullish Mondays, we have expanded their work to consider both the overnight gap and day sessions for each day of the week€"


Linkage: Seasonality Study by Day of Week & the Employment Situation Reversal Pattern


Interesting chart:


Posted Image
I watched a snail crawl along the edge of a straight razor. That's my dream; that's my nightmare. Crawling, slithering, along the edge of a straight razor... and surviving

#22 psyche doctor

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Posted 07 January 2010 - 07:23 PM

Chart I posted earlier in IDS:


spx010710.jpg

A slight alternate to the chart above would have the B wave where wave 2 is which would make the B wave a double three (abcxabc) and would have wave 3 of the diagonal wave C a wave 1, thus it is possible the diagonal could carry higher, even to the vicinity of 1150 spx.


The variation:


spx010710a.jpg
I watched a snail crawl along the edge of a straight razor. That's my dream; that's my nightmare. Crawling, slithering, along the edge of a straight razor... and surviving

#23 Drano

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Posted 07 January 2010 - 07:26 PM

Attention Trader Joe,

Since Psyche Doc has declined to share a G-rated version of his Post-Traumatic Mangina Google Search Syndrome, would you explain to all us chickens what Mangina is?
Of course I'm caustic!

#24 I_Am_Madness

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Posted 07 January 2010 - 07:47 PM

Folks,
I closed out the rest of my GC shorts at 1128.50 for about +12.
With the jobs report coming up tomorrow, i want to be underweight heading into the news hour.

I still think a visit to 1100 is in the cards, but capital preservation is the name of the game at this point.

Trade safe.
Stop the Madness

#25 psyche doctor

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Posted 07 January 2010 - 07:52 PM

Folks,
I closed out the rest of my GC shorts at 1128.50 for about +12.
With the jobs report coming up tomorrow, i want to be underweight heading into the news hour.

I still think a visit to 1100 is in the cards, but capital preservation is the name of the game at this point.

Trade safe.



Not a bad idea, I closed out some of my positions and lightened others today.
I watched a snail crawl along the edge of a straight razor. That's my dream; that's my nightmare. Crawling, slithering, along the edge of a straight razor... and surviving

#26 Bungster

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Posted 07 January 2010 - 08:02 PM

Folks,
I closed out the rest of my GC shorts at 1128.50 for about +12.
With the jobs report coming up tomorrow, i want to be underweight heading into the news hour.

I still think a visit to 1100 is in the cards, but capital preservation is the name of the game at this point.

Trade safe.


I've been taking profits on trades quickly as well. Lightly dong on the indecies at present...and nervous... :unsure:
"It's tough to make predictions, especially about the future" Yogi Berra
"If you believe people are rational beings, you will go through life frustrated and confused" Scott Adams
"Don't dig the dialog of denial"
"No, I don't know that atheists should be considered as citizens, nor should they be considered as patriots. This is one nation under God." George W. Bush

#27 I_Am_Madness

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Posted 07 January 2010 - 08:16 PM

I've been taking profits on trades quickly as well. Lightly dong on the indecies at present...and nervous... :unsure:


You got balls of steel.
Then again, it's the 'tough' trade that are the money trades. Going long is the 'hard' trade right now.
Stop the Madness

#28 I_Am_Madness

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Posted 07 January 2010 - 08:17 PM

Folks,
I closed out the rest of my GC shorts at 1128.50 for about +12.
With the jobs report coming up tomorrow, i want to be underweight heading into the news hour.

I still think a visit to 1100 is in the cards, but capital preservation is the name of the game at this point.

Trade safe.


I might be a tad early...the folks in Asia are having the same weak knee reaction. 1125 now.
Stop the Madness

#29 Drano

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Posted 07 January 2010 - 08:22 PM

I see that Jickiss is here. Therefore, in case he has not caught up on today's IDS thread, I will repeat my post from earlier today:

Hold fast ! ! ! !

Attached Images

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Of course I'm caustic!

#30 Bungster

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Posted 07 January 2010 - 08:25 PM

You got balls of steel.
Then again, it's the 'tough' trade that are the money trades. Going long is the 'hard' trade right now.


Small position I've had a while so it's substantially in the green. I'm not expecting a large pullback here yet - maybe in another week or so...

No balls o' steel here.....
"It's tough to make predictions, especially about the future" Yogi Berra
"If you believe people are rational beings, you will go through life frustrated and confused" Scott Adams
"Don't dig the dialog of denial"
"No, I don't know that atheists should be considered as citizens, nor should they be considered as patriots. This is one nation under God." George W. Bush





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