Unemployment falls, futures surge

[James48843]

Futures Jump on Jobs Surprise: Economy Adds 243,000 Jobs, Unemployment at 8.3%


More:
http://finance.yahoo.com/news/unemployment-rate-hits-8-3-133203262.html

Going to be a huge "up" day today.

 

[clester]

Question is: should we buy it or sell it? I sure hate being out. My emotional side says buy, buy, buy!

 

[clester]

Question is: should we buy it or sell it? I sure hate being out. My emotional side says buy, buy, buy!

I would love to see some profit taking this afternoon. To bad we won't know by noon.

 

[James48843]

I can tell you this- I am sitting back watching in amazment as the market keeps climbing like this . I have been lucky enough to be "IN" right now, but I can tell you it amazes me every day that this surge continues to last. I keep thinking everyday, before noon, that I need to jump off the train. but the fact remains- the trend is your friend, and until we start to see indications that the roller coaster is ready to take a break, it will continue to be strong. I haven't seen those indications yet.

I'm looking for indications like: "C" fund falters for a few days; some outside event (european bankruptcy, japanese crash, etc) causes a disrution; or the "S" fund simply begins to fall backwards for more than 2% or longer than three or fours days.

I haven't see any of those kinds of signs yet.

So I hang on and enjoy the ride.

Choo Choo!

 

[WhoDey]

I only recently joined this group, so this is my first train ride and while I'm enjoying the ride, I'm getting nervous about how I'll know when it's time to get off!

Those on the train are wondering when to jump off ... those not on the train are wondering if they should jump on!

 

[SkyPilot]

If we are still range trading, then we should see a pullback fairly quickly (maybe starting this afternoon) as more profit taking sets in... hope to buy the dips (if there are any). The question is, with limited trades, if one buys in do we believe that the market will continue to sustain an uptrend for several days?
What to do, what to do...

 

[James48843]

If we are still range trading, then we should see a pullback fairly quickly (maybe starting this afternoon) as more profit taking sets in... hope to buy the dips (if there are any). The question is, with limited trades, if one buys in do we believe that the market will continue to sustain an uptrend for several days?
What to do, what to do...

It all depends on what you believe.

IF you believe in the P&F charts, then look at this amazing set of charts:

#1. If you believe the S&P P&F chart, we are going up to 1610 on this up cycle.
That's an amazing 20% higher than where we are today. That's what the chart says- a 20% gain ahead on this up cycle!



#2. If you believe the "S" fund P&F chart, then we are going upward to 725 on this cycle. That's the smallest of the three, and still represents about another 4% higher move from where we are today.




and

#3 - IF you belive the "I" fund P&F chart, then we are going upward to 76 on this I fund chart:

Wow. That's expecting a 40% gain from where we are today. That's what the technicals are saying!



20% higher-
or
4% higher-
or
40% higher?

Wow.

I don't know if we'll make any of those three targets.

What I DO know- is that there is still a LOT of steam pushing this all upwards right now.

I don't know why, but it appears to be happening, so I'll take it and be grateful!

 

[SkyPilot]

James, how does that compare to last year at this time? Just curious how similar or different the situation is...

 

[James48843]

James, how does that compare to last year at this time? Just curious how similar or different the situation is...

I don't have any idea.

Sorry. I only keep track of today.

 

[SkyPilot]

Well, today is awesome if you are in!