iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,445 Blog Posts

Snow Storm Defeated by Robust Employment Report

Who said snow would coerce companies into shit canning people?

PFFFFFFFFFFFFFFFF.

For the month, we only shed 35,000 jobs. That’s so little, it’s like creating jobs, but in a very non-creating way.

As a result of this terrific news, futures are up, the dollar is up, and traders, generally, have “stiffies” for high beta names. Into what can only be described as “the bestest jobs report, like ever,” expect bears to shit themselves (again), get punched in the face with jelly filled donuts, and die inside of a few short trading hours.

At the moment, I am “unswayed” by “VOS” (Victory over Snow) and may opt to sit this rally out, from the luxury of my miniature swivel chair.

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40 comments

  1. Le Fly

    Smoked=1%

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  2. Carsony

    Once we come to the fork in the road will know which way to go. And its coming.

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  3. Cash Is King

    This rally will be sold by 10:30.

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  4. Dopes with No Hope
    Dopes with No Hope

    TLT getting smoked!

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  5. BernieCornfeld

    So, 2 possibles for 2day 1)Buy like mad 2)Fade the spike—where is that Magic 8 Ball $$

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  6. Skeptical

    If the government ran a diet show — contestants would compete to see who could gain the least amount of weight each week.

    Congratulations Fatty McFatterson, you only put on 3 pounds this week. That’s so much better than the other fat slobs who gained over 8 pounds this week.

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    • JakeGint

      Awesome — and veritable — analogy.

      ________

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    • Steve Place

      http://imgur.com/2vwma.png

      I’m allowed to post this as my wife loves the show.

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      • Honey the Alchemist
        Honey the Alchemist

        Great pic, Steve! Makes you wonder though what the Chinese seamstress said to herself when she was running that pink t-shirt she is wearing under the sewing machine? I bet it was along the lines of: “It must be frightening in America at lunch time, if the person who will wear this shirt skips breakfast–I wonder if we will get a fish head with our dixie cup of rice today, or even a packet of soy sauce”.

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  7. TraderCaddy

    Show me the other number.
    The one where people are underemployed, those that have given up, and those where the unemployment have run out.
    The traditional unemployment rate is going the way of M1 money supply indicator and the Oldsmobile.
    We are seeing a secular change in America.
    When do we get excited about a small decrease in the number.
    Show me the plus 200-300k which should be happening at this stage of the “recovery”cycle (I remember 1976,1982,1992).
    That being said, I daytrade so I will just do what the market tells me.

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    • Frank White

      Change you can believe in.

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    • Honey the Alchemist
      Honey the Alchemist

      Yep. It jump to 16.8% from 16.6%. Manufacturing increased upward 1,000 (probably snow plow manufacturers). The real number is around 27.7% My guess is about 1 in 3 people don’t work. Notice I said “don’t instead of not working”. Fly’s piece on the decline of the American worker was dead on, gerbil ball accurate. The American worker is fat, lazy and ENTITLED! Many are loving this crisis! Otherwise why would we continue to extend unemployment benefits? We are not approaching 24 mos in extension(s). Even the most liberal Euro nations dont go beyond 19 mos, including super Euro satellite nation, Canada. I love America! Nobody is goin to out do us! The American worker can’t show up to work on time or operate a computer, or competently perform, but when you fire one they amazingling can find their way to their employee benefit appt in a timely fashion after applying for these benefits online. Crazy, huh? I for example fire a lady one time for being the worst employee on earth. NEVER ON TIME! COULDN’t even turn on the power strip to the computer, but she amazingly filed online with 90 minutes of her termination. Crazy, huh!

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  8. rd

    I’m going to use this to sell SPY 115 calls. This rally is soooooooo played.

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  9. monaybot

    why would snow be a reason for higher unemployment?
    this is a serious question…

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    • J

      Less outside activity.

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      • monaybot

        makes as much sense as saying unemployment should decrease in winter, because people need money to buy jackets and mittens…

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  10. J

    Does anyone recall the century there were actually months the US put on payrolls of 250,000?

    ‘grandpa, do you remember a monthly payroll of 250K?”

    “Yes I do son. It was so long ago that I think we were still using horses and carts”.

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    • TraderCaddy

      Good one.
      They are probably now adding these numbers to the payroll in India and China.
      Just had a conversation with a guy the other day who is out on his own and writes software programs,etc.
      He says he is in trouble because he keeps getting outbid by people in India.

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  11. Woodshedder

    Le Fly, its that bullshit pleather chair for Staples that is giving you this pain in the ass.

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  12. SlayingDragons

    That was a fk’n uppercut to my scrotum

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  13. Alvari40

    Dollar is up……..euro is down……..it’s still -34,000………pre-market has stalled…….still loosing jobs after mammouth run up in indices expecting that things will get better…..technical divergence already set up on daily chart…….topping tails on Naz futures 15 min…..Naz index at resistence on daily chart…….adding to my QID right here. Bottom line, I don’t believe the pop pre-market.

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    • Alvari40

      Adding QID here one last time. Hurts when 4 layers of skin get ripped off your face as longs storm by.

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  14. mrkcbill

    10-500 can I hear a FUCK YOU or a COCKSUCKER

    Anybody?

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  15. indypass

    it’s time kids, fade the dummies.

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  16. TraderCaddy

    Hey.
    Look at me .
    I’m a gambler. Bought VXX @ 24.66 for a trade.

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  17. Coked Out Money Manager
    Coked Out Money Manager

    We’re gonna blow thru 1150 and rocket thru 1200 on our way to 170 by fall or the line I just did is NODOZE!

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  18. Unemployed

    Vix hit 17.98 at the open,matching recent lows. Now the vix acts differently at the top when fear spikes then falls quickly. At the bottom it moves more slowly and can stay there longer, week and a half maybe….No way the govt stats were going to be painful with Obama trying to throw a hail mary with healthcare this week, I predict revision next month

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  19. TraderCaddy

    AAPL holding up NDX- It certainly isn’t the chips and MSFT.

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  20. Morris

    I think we all know that whatever government numbers are released, they are carefully chosen for their ability to control public actions. In summary, anything to get people back into the stock market. If the stock market is doing well, everything else must be doing well — so don’t complain about your cat food diet, damn you.

    This market is heading higher…

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  21. JakeGint

    It’s quite obvious that The Gap has saved America once again. Nothing left to do but to sit back and have a smelter sammich.

    ___________________

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  22. rd

    “expect bears to shit themselves (again), get punched in the face with jelly filled donuts,”

    actually I think I’m getting slapped in the side of the face with a large “chocolate stick”

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  23. Sebaco

    I would rather be SLAUGHTERED for BEEF than forbidden to bid on this market!

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  24. TheArtist

    metals have done well this week. alum, steel, and titanium.
    CENX up 32% in 7 days, for example.

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