Daily Stock Market Equity and Options Trading Commentary

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Thursday, March 5, 2009

Jobs Number Dismal... Estimate 7.9% I Bet it's Higher

The jobs number is coming out tomorrow morning and that will have a major impact on the markets. The consensus estimate is 7.9% but I think it will be higher maybe as much as 8.4%. To think about the real unemployment number is even scarier! I bet the real unemployment number is around 14%. We could see a major sell off on a worse than expected number with huge volume. This may be the news we're waiting for to form a market bottom. Not to mention I think this number is already factored in pretty ugly, and I think a slight miss could even rally the markets. I am starting to think that capitulation does not exist- but this could be the news! If we can get a major sell off on huge volume and rally higher, I think it may be safe to say we have found the short term bottom.

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