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
19,350 Blog Posts

GARNISH HIS WAGES: America’s Love Affair with Jobs is Over

We were supposed to add 180k jobs in February, but only managed 20k.

Wage growth, however, was strong — bullish for inflation and gold.

Dean Baker weighs in.

What does this mean?

It means the slowdown heading into 2019, with an absolute plunge in semiconductor orders, as evidenced by the recent beige book report, affected employment in February. SHOCKER.

Recession? Hard to tell. The Atlanta Fed is estimating just 0.3% GDP growth for Q1. Is this being priced into stocks?

It all depends on how the second half of 2019 will look. If things look to be getting better, the market will reflect that optimism and ignore the present weakness. But if we get some negative news, namely from Apple, then markets need to correct.

For now, trade the tape, not the news.

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2 comments

  1. edge

    Hard to see a silver lining in that cloud. Unless you’re very short.
    I had a new personal record for amount of puts yesterday, sweated it out. Looking for more now. YOLO time.

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  2. edge

    Idiot Larry Kudlow sez that jobs report don’t mean nothin’. Keep pushin’ that market Larry. I need an entry point, puts are the new AMZN.

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