Read this last week on an airplane. We keep hearing about how many jobs are being created, but it may turn out that they are being created by retirees re-entering the work force (recall the last report noting an increase in the labor participation rate). Alright so that last quoted paragraph says "alternative work" is increasing because the population is getting better educated and older. But no one else is getting into alternative work. The under-educated cannot get this kind of work, and it's the only kind of work that is increasing. Why do these 55-plussers want to work? Why do they want to work in alternative work? I think they want to work because staying retired is so damn boring and alternative work is pretty flexible. But they are inflating the jobs creation numbers.
yea its been understood for a few months now that the headline number is inflated, most of the jobs are part time jobs taken by older people. thats why the key numbers to watch each jobs report is the wage increase % and where the jobs are being created. the market has been going up for a month now and it feels like there are soooo many bears or cautious people(like me) who dont want to buy this market hand over fist, but yet it keeps going higher, ive always been a believer that the market is set out to hurt the most people, so until the bears start giving up, this market might keep going higher until we have too many bulls.
I think when you read a bearish article, it means this market is going higher! When you read an article saying "New highs! Market soaring on optimism!" Its usually time to sell. Seriously!
Who else missed the gap fill by IDTI today? It was caused by rumor of a buyout by some company. Maybe we'll get another chance.
jp morgan with the earnings beat, all the banks are up pre market, looks like the market is going to rally today.
Who now? Check out TVIX totally tanking here, new 52wk lows. TVIX is something you want to hold when the market goes down, but if you hold it during market rallies... ouch!
Bulls in control. Markets go higher just because the gains are looking good to people on the sidelines. This is still a rally in a bear market IMO.
Najarian on Fast Money saying he is 60% cash here? Wow, not really excited about this markets upside.
