THE MARKET ALWAYS RALLIES ON VERY VERY BAD NEWS...
IT'S PROBABLY A BIT OF THE OLD PLUNGE PROTECTION AT THE FED...
THE MARKET WAS OVER-SOLD...AND THE SHORTS KNOW THAT THE MARKET ALWAYS RALLIES ON VERY BAD NEWS...
SO ODDLY THE SHORTS COVER ON THE BAD NEWS...AND THEN SELL THE NEXT DISMAL NUMBER ON THE COME OUT ROLL...
VERY ODD...BUT THERE IT IS... THIS IS IRRATIONAL...BUT THAT IS NOT UNUSUAL THESE DAYS...
BASICALLY EVERY JOBS FRIDAY WILL BE A RALLY DAY FOR THE REST OF THIS YEAR...
REMEMBER THE SAME THING HAPPEN LAST MONTH AND BEFORE... WHAT SEEMS TO HAPPEN IS THE NUMBER IS "SOLD" IN ADVANCE...PROBABLY AS A SHORT SALE...AND THEN COVERED "ON THE NEWS." AND OF COURSE THE JOBS NUMBER IS A TOTALLY KNOWN FACTOR..IT WILL ALWAYS BE BAD OR VERY BAD...SO NO RISK IN SELLING THE JANUARY NUMBER AND BUYING IT BACK ON FEBRUARY.
THE RULE: ALWAYS BUY THE DISMAL JOBS NUMBER...THE WORSE MONTHLY JOBS GET ... THE MORE THE SHORTS WILL COVER...
THE "EXPLANATIONS" TODAY ON CNBC AND ELSEWHERE ...ARE THE PURIST FORM OF BULLSHIT...
THE SELL OFF CAN RESUME NEXT WEEK...
I WOULD EXPECT A BIG RISE IN GOLD UPON PASSAGE OF THE STIMULUS BILL NEXT WEEK... GOLD IS REALLY THE LAST RATIONAL THING IN THIS MARKET... THE REST IS TOTAL BULLSHIT.
THE PUBLIC PROBABLY FINDS THIS ODD...WITH ALL THE SUFFERING IN MAIN STREET...WALL STREET RALLIES WILDLY...
I WOULD EXPECT A 300 TO 400 POINT RALLY TODAY...!
