As markets are in the process of digesting huge gains from March lows...any Data which is perceived to be "lower than consensus"will be greeted with some selling.....
467,000 further job loss is higher than consensus of 363,000....jobless rate went to 9.5% better than consensus of 9.6%.....
May factory orders were as expected....a good trend for economy.....
S&P 500 low today was near 900 area...previous support was found @ 888.....there IS a chance that we MAY do a "higher lows" in this selling which was overdue & articulated by many....
Gold Down $10.20
Oil Down $2.62
Canadian $ Down 87 tick against US$....
Portfolio is MRVL,SOL,TLM.....
@ 12.21 following are green :
IPI,AGU,POT,STP,ENER,ESLR,RIMM,V,NDAQ,
MA,FSLR,VAR....
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hi Saleem,
We're running about 10% unemployment in GA. White collar jobs only 6% unemployment. Stimulus money starting to get thru local governments for projects. Gas $2.45 reg. Lots of store closings (small businesses).
Traffic level is off highs, but busy still.
Best Regards
Hi Standards,
We have seen the "lows in economy"
NOW..we need evidence of improvement and market will move higher...
This basing around 900 is very healthy.....
Americans have "learnt a lot from this downtrend"...they are saving more & trying to live within means..a very good thing....
Saleem
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