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  • A change in the Trading Theme?

    * A change in the Trading Theme? * Gold rebounds Big time! * ECB cuts 50 BPS, as expected... * Lots of lessons today... ** Jobs Jamboree Friday! Good day... And a Happy Friday to one and all! It supposed to be 70 degrees here today, so in my book that makes it a Fantastico Friday! It's also a Jobs Jamboree Friday, and while this report is probably not going to be anything good, it will be Fantastico BAD! The experts have forecast a job loss in February to be 650K!!!!!! Six Hundred and Fifty Thousand did I say? Yes, sir, may I have another, sir? Well, shiver me timbers, this is just downright awful! And if it prints this bad, it will be the most jobs lost in a month since 1949! This is horrific, just plain horrific folks... And in my opinion, will NOT signal the bottom of the barrel for labor just yet... This thing has momentum and I don't think you'd want to step in front of this run-away bus!...
  • Rate Cut Week...

    * Mixed bag o' data... * Trading theme in place... * election tomorrow... * Consumer Spending collapses! ** Rate Cut Week... Good day... And a Marvelous Monday to you! Welcome to November! For almost 20 years, November was my least favorite month, cold gray days, dead looking trees, bad memories of the month, and all that... But I just don't get all involved in that stuff anymore, as my different outlook on life tells me that every day is a great day, and months just contain great days! OK... On Friday, we saw more and more of the same trading theme, and in the overnight markets last night, more and more of it again! And Carry Trades are back for the moment anyway, as stocks rebounded late in the week to end the month with a brighter outlook than they had earlier in the month. But, in my view from the cheap seats, this stock rebound is much like what they call in the markets, a dead cat bounce, (OK no animals were hurt here!) which means... That stocks are going nowhere, but bounces can still happen. I say that stocks are going nowhere, and I'm not even your last choice as a stock jockey... I just survey the economic horizon and see a deeper recession than we are currently experiencing, and a "spent" Consumer, which is going to lead to awful earnings for Corporations, and thus stocks not going anywhere......