Saturday, September 04, 2010
BAGAKOAA; September 3, 2010 What will tomorrow bring?
It’s a three day weekend and that is good news to so many. We are a little sad as we finally had some upwards momentum and some volume providing real direction to this moribund market.
Get a Job!
In 1957 the group the Silhouettes had a huge record (actually almost all records were the same size, 7 inches for a 45 RPM or 10 inches for the 78 RPM, But I digress.) called Get a Job!
Ironically employment in 1957 was only about 75%, as woman had not totally infiltrated the workforce. Male employment was 91.5%. Median income in 1957 was $3,700 (adjusted for inflation, that would be just under $28,000 dollars today. Today that figure is about $53,000. We come a long way baby.
I got todays employment figure wrong. (That was for my critics who imply I only recap when I am right.) My guess was 20,000 new private sector jobs, the number came in at 67,000 which was about 20,000 higher than peoples smarter than me expectations. Non-farm numbers were down, but down was the expectation. The number was a positive number for the market even though it kept unemployment at 9.6%. The market started making some headway and honestly I was expecting some “last 30 minute” HFT program trading to kick in and clear the gains and have people head off for their three day weekend. Instead, the gains held and we had our nicest weekly run in 5 weeks.
From the White House Photo Gallery-First Days on The Job
"Ok, now let me get this straight, I CAN use my Blackberry and computer on take offs and landings?"