09 March 2007

One Little Piggy...

Jobs numbers, manufactured or real, right in line with estimates @ 97K and the bulls crawling all over themselves to buy...Dow futures spike some 60 points with the S&P 8 and the NQ's 11...Dollar surges against Euro and the Yen and bonds sell off a bit. Weakness in construction jobs batted aside as well as rising labor costs and not so pretty trade numbers. Spike kind of throws our bias off a bit bringing that 1780 number within view...that should stop long traders in their tracks but I don't think we'll get there today...more likely a gap fill back into 1755 and we'll see how the dip buyers react...jfg.

No comments: