Before the Open (Dec 3)

Posted on by Jason Leavitt

Good morning. Happy Friday.
The Asian/Pacific markets closed mixed – there were no big winners or losers. Prior to the employment numbers release, Europe was mixed and with very little overall movement, and futures here in the States pointed towards a positive open.
Here are the important employment numbers:
unemployment rate: 9.8% (vs 9.6%)
nonfarm payrolls: up 39K
private payrolls: up 50K
The initial reaction was negative. S&P futures went from being up a couple points to down 6-7 and Europe quickly sold off.
It is my belief a new uptrend has begun. After a huge move up in Sept & Oct and a rest in Nov which neutralized the short term, in my opinion, the trend is up again. Instead of trading conservatively and taking profits quickly because we weren’t getting much follow through, I think we can loosen things up some and play for bigger moves. More after the open.
headlines at Yahoo Finance
today’s upgrades/downgrades
this week’s Earnings Reports
this week’s Economic Numbers

0 thoughts on “Before the Open (Dec 3)”

  1. The NFP is a hurt but only a scrape not a real wound.
    The ultimate move is up, with a little correction into Dec, but! Much hangs on Congress and taxes. Watch what does not happen on taxes and unemployment extensions. Failure there is the kiss of death for markets since new taxes mean… a new game to be sorted out in H1 2011.

  3. Hi Neal! I suppose you have experience with Asian women.
    Do they make love this way: 1 1 1 1 1
    or the other way?: – – – – – –
    Or does that have another meaning altogether
    when you specify people down under? HW

  4. im a big ferousious,frightning gruesome bear,but i dont trade with my bias
    the only reality is price
    why does price have to go up
    because some computer says we have to follow the usd inversly

  7. My honest opinion….no bullshit….I think we
    are experiencing a blow off top. A 2010 rally
    largely fueled by US Fed support. So don’t
    think about right now because there are no heavy
    sellers out there. And every time we have a 4 to 8%
    pullback: Whammo! We start to move up again.
    Aussie J: would you please throw another 2 shrimp
    on the barbie for me and Neal. And I’ll have a
    vegamite sandwich on the side if you don’t mind. HW

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