Biotech lotto bombs aside, where is the overall direction of the market heading next? Are today’s jobs numbers more important than AMKR saying, about a month ago, that their unit shipments to Apple were -30% into year end? I think not.
The jobs report is a lagging indicator, but it becomes very real to Main Street when they’re reported. Sometimes the things we already knew become more serious once reported upon officially — such as a Lehman or a Bear bankruptcy. We all knew it’d happen. And when it did — it rocked markets.
I think it’s important to moderate opinions until we hear some guidance out of Apple. I really do think it’s that important. In the interim, book profits whenever you can and try not to get lured back into stocks on a Friday after a wretched jobs report, coupled with sharply lower crude and weakness in the junk bond market.If you enjoy the content at iBankCoin, please follow us on Twitter