It's a paradox. A paradox. A most unusual paradox!
THE RELATIONSHIP BETWEEN OIL PRICES AND STOCKS THAT IS!
IF OIL GOES DOWN, THAT MEANS THE GLOBAL ECONOMY IS SLOWING! RIGHT?
BUT WHEN OIL GOES DOWN, STOCKS RISE! WHY?
IF THE ECONOMY IS SLOWING HOW CAN THAT BE GOOD FOR STOCKS!!
AND IF OIL GOES UP, THAT MEANS THE GLOBAL ECONOMY IS PICKING UP! SO
THAT'S GOOD FOR STOCKS, RIGHT?
NO WRONG!
Well, anyway, I said its a paradox, right?
At this point, Wall Street is just whistling past the graveyard. Four
more years and perhaps four more wars.....and plenty of tax cuts and
deficits to come is what they should be watching!
But, like shooting "bad guys" in Falluja, the market has become a kind
of "video game."
And, that video game mentality can last a long long time.
Still, the jobs number tomorrow could sober people up fast. The
consenus seems to be that "the fix is in" and jobs will be
"respectable" at around 200,000.
I'm not so sure. The seasonal hiring fudge factors could bite this
November's numbers hard. I doubt that many retailers were really
"surprised" by the weak Black Friday results. These guys know what
side the cash register is buttered on!
SO, THOSE BETTING ON A BIG JOBS NUMBER TOMORROW, COULD COME DOWN WITH
A BAD CASE OF FOOD POISIONING AROUND 9:00AM EST!
In October, Florida went from being the Sunshine State to being the
Junk Yard State, with all those wrecked trailers scattered around.
That's over now.
State Governments are having lower hiring because of poor sales tax
revenues.
And, the only thing still "booming" is off shoring and out sourcing!
Perhaps the TEMPS AND PART-TIMERS will rescue Wall Street' bacon yet
again!
But alas, they certainly didn't rescue the retailers on TURKEY DAY
WEEKEND! And that tells you something. Doesn't it?
Look for a jobs number between 86.000 and 68,000, and most of that
will be in temps and part-timers with some in the ever popular
financial and professional services as well.
The market is due for a big sell off to "get real" again. And there's
no time like tomorrow to do it.
http://www.census.gov/indicator/www/m3/
