If you were long stocks heading into today’s jobs report, what exactly are you celebrating today? Lack of Fed rate hikes? You weren’t seriously thinking that would happen in the first place. Today’s numbers were perfect, weak, but not too weak. They were so good, conspiracy theorists might surmise they were custom tailored for the markets itself.
If you take into account yesterday’s ISM numbers and today’s +151k jobs number, which was sprearheaded by bartenders and waiters, a weaker economic narrative is being painted–heading into the fall.
Markets were up more than 100, now higher by 40. The dollar, which was initially lower v the euro, is now ripping higher.
How could oil and gold be higher in the face of this strong dollar?
Fucking magic.
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Day before a 3-day week has seemed more like a day to sell than ever buy
I’m still waiting for Dow pullback to 17.750 (give or take a 100)
Yellen will hike, she need to stop being flaky and stand for something