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Friday, November 6, 2009

10.2% Unemployment; Loss of 190,000 jobs; U-6 rate is now 17.5%; but don't worry--We have Govt. stimulus saving jobs!


But don't worry--Everyone unemployed is just another potential daytrader!

Oh but "temporary" employment picked up--and some increased overtime---start the spin!!

But the U-6 rate went up to 17.5%!

The job losses were only 190,000 because people fell off the unemployment rolls.

It is an ugly report, no matter how Wall Street spins it, but they'll say its getting better because the "change in the change" is getting less.

Sort of like your girlfriend saying she'll only be sleeping with your buddy 3 days a week instead of 4.

The off day, she'll be out in the bars.

Which is why Main Street is so p*ssed.


They're left with pocket change, and Wall Street is left with billions of bonuses.

11 comments :

Anonymous said...

it's been quite choppy...do you think we're consolidating?

Anonymous said...

looks like bcrx is trading up and down a big...back to 9 then p to 12 now in high 10s...did you hold on to this?

Palmoni said...

No--going higher

The economic "news" doesn't have a bearing on the stock market, despite what people want to believe.

We are just consolidating yesterday's ramp

I wish there were more jobs for people, and the administration is lying about the extent ofg the job losses, but the disconnect with Main St and Wall St will continue

The only time we can have the threat of another "Great Depression" is when Wall Street loses their jobs

They're not

Look at AMZN on the upgrade--they want to move em up

Palmoni said...

I sold Nov 12 1/2s against it so I'm holding thru expiration

Anonymous said...

i think a lot are piling into AMZN to short for it's seasonal drop...not sure how that will play out.

Anonymous said...

Wow, gold touched $1100/oz today. The animal spirits are in full force! Can’t wait until the end of November for that announcement… you think placing a order on a new car in anticipation of the news is a bit premature? :P

Palmoni said...

as long as its not a maybach

Anonymous said...

Guess I need to wait ;D

Anonymous said...

u think its still worth picking some up in the 8s? I sold out at 7.50 for no real reason

Anonymous said...

hey Palmoni and Anno- how much of the columbian company makes up of your portfolio?

Anonymous said...

excuse my ignorance, but what announcement at the end of November is Anon talking about? Thanks.