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  1. Jobs report triggers sell-off / rebound

    As we talked about on Friday, the jobs report was going to be the news of the day, and boy was it. Stocks dropped sharply, but rebounded strongly by the close. Where does that leave us now?

    It was reported that there was a loss of 533,000 jobs in November, over 200,000 more than was estimated. October's jobs report was also revised from a loss of 240,000 jobs to 320,000. This was absolutely awful news, and the market dropped hard early on. We mentioned on Friday that there is a tendency ...
  2. Late selloff into today's jobs report

    Stocks gave back Wednesday's gains yesterday with one swift late day selloff. The whats and whys don't really matter to me, but I'm sure that some of it had to do with not wanting to hold stocks into this morning's release of the November employment report.

    Some employment reports are more important than others. This one could be big. We all know that the economy is a mess. The question is, just how bad is it? The ...
  3. Higher high, or lower low?

    Stock were all over the place yesterday but when it counted, the bulls took charge and the major averages closed strongly to the upside to the tune of about 2.5%. There seemed to be some late money going to work on the bullish side the last two days, which is a good sign - but here come the tests.

    The swings remain violent and unless you are a day trader (trading several times a day) you are probably sitting by watching this like a deer caught in the headlights, because we don't know ...
  4. Are stocks cheap now?

    Stocks rounded strongly yesterday as the TSP funds made back 4% to 5%, not quite half, of Monday's pillage and plundering of the market. The moves continue to be wild and the trend is certainly still down, but that intermediate-term trend will be tested sooner rather than later.

    The S&P 500 rebounded but did not quite make it back to the 20-day moving average, and it is about 3% below the resistance from the top of the declining trading channel, so the test of the downtrend will ...
  5. "Why didn't my account balance move higher last week?"

    Stocks were hit hard once again yesterday, giving back much of the gains made during the Thanksgiving week rally. I hope this scenario is now etched in your mind - holiday trading on light volume can reverse very quickly after the holiday.

    Last Tuesday we said:

    "This market is not out of the woods yet by any means, but the powers that be are going to milk this Citi bailout for as much upside as they can get, probably before the selling kicks in again. I don't think ...
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