Today’s initial claims were a horrible miss, but more importantly, a clue that the last unemployment report was slightly rosy due to seasonality issues.
We also had weak business inventory and retail sales data.
Yet the bears can not seem to push this market down.
Again the bank stocks took the markets higher while oil and energy stocks probably kept a lid on today’s small rally.
DOW UP 21
NASDAQ UP 13
S&P UP 3
FYI: for all the lashings i have given the bears i am mostly short oil and small caps. Thankfully, some of my longs are making up for the temporary losses on the short side. Being short i have to ask if i’m the one…..
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