Just a short post this morning.
I was up last night putting together a dozen stock selections for Members with 2 or three trade ideas on each one, generally on a shorter-term than usual and with less hedging than usual, almost a downright bullish assortment just in case we get good jobs numbers today because those bears are going to find themselves in one hell of a trap if we do!
“Experts” are looking for a very pessimistic 110,000 job losses for August with a 9.6% unemployment rate. Obviously, traders have pretty much already decided to ignore that so anything but a big dip is not going to be good news for those silly old bears, who were making me feel very lonely last week when I once again had to blame CNBC and the rest of the MSM for allowing the bears to control the message and terrify the masses over what is, essentially not a big deal in the data.
I called the top of the bond bubble on August 23rd but TLT had 2 more up days before reality took hold. We were fortunate to be able to revisit our 9 Fabulous Dow Plays (from July 7th) as well as our old, reliable Buy List (from June 26th) which gave our new Members a chance to get in on our main plays for the first time since I last blasted CNBC (July 6th) for being nothing but a tool of the fund managers who make their money spreading fear and panic among retail investors. Perhaps we should thank CNBC for allowing us to BUYBUYBUY while the sheeple who follow them were SELLSELLSELLing but, no, they are a despicable collection of media thugs who should be shut down for the benefit of the American people – I know this because I watch them every day…
You HAVE to watch CNBC BECAUSE they move the markets. We make tons of money jumping on news trades and we make even more money betting against Cramer so it’s kind of fun yet they are all so SICKENING to listen to and I’m so anxious to make the blathering stop by the day’s end that I programmed my TIVO to automatically switch to Dylan Rattigan at 4pm so the minute that bell rings, I don’t have to listen to them anymore.
8:30 Update – Non-Farm Payrolls were “only” down 54,000 – WOO HOO!!! PARTY TIME AMERICA!!! Actually, this sucks as we need 150,000 jobs a month just to keep up with population growth but it’s “better…
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