Friday, December 4, 2009

The Daily Note - Jobs or No Jobs

Now that BAC failed to lift yesterday, the jobs report is viewed as the possible next candidate for the job. Sorry for the pun. Yes, something always has to be "the reason" for a market move. So, is it going to be 10.2%, or 10.1%. That lower number would really kick could it not? Really!! Is this the same group that forecast dire times when unemployment was at 4.4%?

All I am pointing out is perspective. I honestly don't think anyone really cares about the numbers. The numbers are not personal; it's just a number to which I doubt traders can relate; after all, we as traders are always employed. It is only an indicator to us. Unless we know someone, or venture out to the local office, we may not even notice its reality. Stores are empty or closed, office buildings have for lease signs everywhere, and streets are not quite so bustling. We do our chores, our daily living, and we cannot relate. So why should the markets move one way or the other on 1/10%?

So closes another week. But hey this is only "Shift Work"


FSLR Let's see if it will hold up and if it can pop above the 130.19 once more. Long above $128 to near $130, braking higher above 130.20, to $131.50, then $133. Short below $122 to near $120


AMZN Gave some back yesterday and the trend may continue Short below $140.80 to near $139 breaking lower to $136. Long above $142 to about $144 breaking higher to $145 then $146 ++


BIDU Short below $427.80 to about $426 , $425. Long above $429 to near $431, then above $432 then about $434 higher with momentum, possibility to gain a new high or a below a low is never ruled out with BIDU.


MA Short below $236 to about $#235, then near $232. Long above $239 to about $242, braking higher to near $243 areas.

Happy Trading, Living and Dancing

PS. The Daily Note is written the night before and uploaded on site automatically 15 minutes before pre-market open. Therefore discretion and adjustments may be necessary.