Job growth came as negative 4k......so sellers jumped on sell button.......
I am not sure who is surprised by this "indicator of weakness"...I am NOT.....
Every day for the last 60 days ...we have been hearing about job cuts in housing related companies.....Sub-Prime related businesses,hedge funds related business,liquidity related businesses.........
There will be similar drop in jobs in the next Two months @ least...so sep & oct job data will be in toilet also..........
All this guarentees "two .25% rate cut....one in Sep next in Oct"..........
So today is a down day......Monday will be CALMER !!!!!
I sold my EGO @ open for a 7.5% gain.........
Bought CMED @ $34.04..as medical devices looks strong......
Most stocks are in deep RED......thanks to "capitalization on FEAR"...welcome to the world of hedge funds.....they make money old fashioned way...by manipulating the trend......
Expect improvement by close...as selling is relentless as i write @ 11.15 AM...
Nasdaq is the weakest down 2.09%......
BLOG does not give buy or sell.
Saleem
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