Thursday, August 19, 2010
Jobless Claims - Market Killer?
If this doesn't send the market down I give up. Jobless claims just reported. Hit 500k. The four week moving average was over 482,000. The highest number since December of 2009. This is real time data and shows what I have been saying now for weeks pointing to the leading indicators, the U.S. economy is falling. The market should be down alot but should and will are two different things. We got the bounce I chickened out waiting for but I was shorting more yesterday. Let's see if once again the market can shake off another bad number.