<<Tomorrow, all eyes will be on the July employment report - especially after June's softness and the recent run-up in oil. The consensus estimate for nonfarm payrolls is +243K, although Briefing.com would peg it at +215K. For more insight into what to expect, visit Briefing.com's Looking Ahead column.
RtS, I am so excited about tomorrow and the jobs report I think I will get up 2 hours early so I can be absolutely sure I am ready to hear the news!!!:)
Let's see now - I believe the consensus number is 243K, Briefing.com is expecting 215K. Now let's assume the worst - say a drop to 50K, WOW, maybe we will see a 10 percent drop in the NASDAQ tomorrow - set an all time record or something - how about a 1987 type crash, 20 percent or so down on the DOW, and maybe, just maybe, people will become less bullish - we just got to get rid of these bulls - they are causing such a problem by holding the market back from a recovery.
On the other hand, what happens if we get 300K+? There might be such a scramble for stocks that before we can get our order filled, AMAT is up 20 percent and we've lost all that profit for the year. I shudder to think about it!:)
And you know what the worst part is? - as soon as we get the number tomorrow, whatever it is, after 8 hours of reacting to the number, the market will forget about it and start looking for next month's number - unable to act until it gets more data - and in the meantime the "beat goes on".:)
Don |
