UNBELIEVABLE. The market managed to close at a new all time high, even though the Jobs report was lousy. The economy created only 162,000 non-farm jobs vs. an expectation of 175,000 not to mention that last month´s report was revised down by 7000 jobs. CNBC states the quality of the jobs being created is an issue. Burt White of LPL Financial pointed out, “Over the last four months we’ve created 4.2 part-time jobs for every one full-time job. That trend is not going in a good direction.” The markets just keeps rallying nonstop……. Why? Very simple, under the current economic outlook Mr Bernanke is not going to taper QE, thus the market will stay artificially inflated.
Today´s Profit USD 125 (Portfolio Size: USD 25,000)
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- Unbelievable: 4.3 Part-Time Jobs Created for Every Full-Time Job in 2013! (ijreview.com)
- Hiring slumps in July (wqad.com)
- Stinking Jobs Report: 11.5 Million Still Unemployed, Part-time Jobs 77% of Jobs Created in 2013 (confoundedinterest.wordpress.com)