First off, thanks for the love on last nights post “Things I Can’t Friggin Believe”. I think I will make it at least a weekly as I find things that piss me off on an hourly basis. It will cover the market, politics, pop culture and some other items.
Futures are up a bit and Japan closed above its lowest levels. The bears still want to keep the punch bowl and the bulls have to feel tentative at best. And it’s Friday. Regarding the unemployment number I am already looking forward to the next one, as I feel it will be worse down the road, so I will probably be shorting a rally. If the Fed cuts further on a bad number, which they probably will, I think the signal will be one of a grim reality and not any sign of anything constructive. We are getting oversold again but you know how I feel about oversold markets. They can stay over sold.
If folks aren’t buying cars are they really buying anything else??