www.thestreet.com early this morning after seeing the unemployment numbers:
Dougie chimes in with this calling those (and I'm in that camp) who touted job growth "A Ludicrous Forecast"
Despite the whispers of substantive job growth, the report disappointed. The bulls have price momentum in their favor -- not the prospects, necessarily, of a self-sustaining economic recovery. Ludicrous forecast? Today the remnants defeat the crowd, and the market closes between 1% and 2% lower. We might even learn what it means when the oscillator is stretched.
Bob Marcin chimes in and says this:
The employment data was truly horrible. Not the establishment survey, but rather the household report. Both sources have sampling issues, but the household survey picks up credit constrained small business/self employed, while the establishment survey focuses on big business. This report proves once again that Bernanke's plan to bubble stocks and bonds is not getting liquidity to Main Street. Bernanke thinks 0% interest rates help the little guy. Wrong again Ben.
Maybe the bears should follow the lead of this guy! And at least, get some bull balls!
So let's look at the unemployment rate. I said we would have a gain of 88,000 jobs. It was a George Constanza opposite day! Instead we lost 85,000. But I thought the Govt. was going to fix the figures, and I used at least a modicum of reasoning. But heck, how does it matter? With these unemployment figures, you can dress it up all you want, but you are really hazarding a guess with all the Government fudging. I made a bad guess and dressed it up Wall Street style. But at least it didn't cost you any money. The fix is in--and it's to the upside with stocks!
But last I checked, the last week I gave 800% winner on calls with WYNN, 400% winner with calls on CMI--which I'm still holding--I'll advertise it when I blow them out, and 10% moves in X and CMI also, and if you bought GOOG on the opening this morning, as I tipped, you got 8 points on that already
What did these pundits give you?
Just more of the same--nothing!
But today you got something from Goldman Sachs. And this year, I'm over bashing Goldman. At least, they give you good research, good ideas, and you can read between the lines of what they say--Even though they'll cut your balls off in trading if they get the chance! (Now that I got that disclosure out of the way, it's time to post their research!) They removed ANF from their conviction buy list. Which means you can pick this number up today. ANF has $22 million of unredeemed gift cards that need to be hit by the end of January--which means that nextmonth the SSS (same store sales) will print a decent number. And ANF has pulled back enough to get in!
GS main 0108
And Goldman had a nice piece on health care. You should check that out also.
Goldman Sachs Research US Healthcare Medical Technology