Late Update to 7/11/05 Market Comments

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I know a lot of you are up and around a lot earlier than I am so you probably read today's market comments. I made a couple of late updates this morning to the 7/11/05 comments. Here is most of that update...

About that lower than expected jobs report; Jason Goepfert at sentimentrader.com tells us this:


"...one of the worst things for the bulls to see would be a positive market reaction to a positive jobs number surprise. Well, we got one of each, as the market had a very good day off a worse-than-expected payroll report. Since the beginning of 2002, there have been 5 other instances of the S&P gaining 10 points on a day the jobs report came in less than expected. 5 days later, the S&P was an average of 15 points lower, with 3 of the 5 being negative (all from 2002). 30 days later, 4 out of the 5 were negative (including occurrences from 2004 and 2005), and the average loss in the S&P was 25 points. If we relax the parameters a bit and just look at any time when the S&P gained 5 points or more on the day of the jobs report (no matter if there was a positive or negative payroll number), then since the beginning of 2004 the S&P was negative 30 days later 5 of 6 times. The tendency of the market has been to reverse the initial reaction to these jobs numbers, and it is a consistent enough tendency to garner our attention." - Jason Goepfert
 
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The Technician wrote:
Sounds like the old bait and switch........over days in the market, not off the shelf at the store :dude:
Glad to hear Dennis wasn't that hard on you. What do you mean here with 'bait and switch?' Something like when the FundManagers or Hedge Fund brokers manipulate markets?
WW.gif
 
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I'm just summarizing some of Geopfert remarks with some of what is going on in the markets.....its like a bait and switch.....marketlooks great by what theysay we have going economically, but its really something else.....therefore later its a market drop.....

It just reminded me of the bait and switch they uselike at Circuit City...they say they have something of good quality but they don't ....you would have to order it to get it 9delay in getting it in)....or you could just buy what product line we have in stock....usually a product you don't want....

:dude:
 
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