Plato - 06 November 2009 12:10 PM

Weird market reaction to the bad employment numbers this morning. As Rick Santelli said - we might need 11% unemployment to get the Dow to 11,000. 

Edit: So in order to get to a new all time high on the Dow (around 14,000 or so), we might have to have half of our working population on the street and applying for unemployment benefits. Exciting prospects.

I disagree with your analysis - look at the trend in job loss, it shows we are on track to add jobs within the next few months.  Looking deeper inside the number we saw temporary help increase (I think the 3rd month in a row).  Plus productivity gains the past few months point to job growth in the future.

Anyone care to explain this trade I just partially had fill.  I placed a sell order on a preferred stock for 23.35 for 200 shares.  I came back after a workout and see part of the order sold at 23.35 while the HOD is showing 23.12.  Rebooted my broker software to make sure it was not a glitch and still shows HOD of 23.12.  Someone accumulating and needed my shares to complete the order behind the scenes?  More WS shenanigans.

artman1033 - 06 November 2009 10:39 AM

Current conditions: 10:34 AM
AAPL @ 193.27 with 4,524,857 shares traded.
APVKT November 200 call biggest volume @ 6,789 Volume today. currently $1.61
APVWS November 195 Put biggest volume @ 4,579 Volume today. currently $5.10

Current conditions: 1:00 PM
AAPL @ 194.03 with 7,374,814 shares traded.
APVKT November 200 call biggest volume @ 15,735 Volume today. currently $1.75
APVWR November 190 Put biggest volume @ 9,041 Volume today. currently $2.55

Anyone know on a head and shoulders pattern does the high on the left and right shoulder matter (ie. can the right be higher than the left and vice versa) as long as the “head” is not taken out?

OK time to sell some stocks short for the last hour or so - this market cannot end green after this job report this morning.

artman1033 - 06 November 2009 01:12 PM

artman1033 - 06 November 2009 10:39 AM

Current conditions: 10:34 AM
AAPL @ 193.27 with 4,524,857 shares traded.
APVKT November 200 call biggest volume @ 6,789 Volume today. currently $1.61
APVWS November 195 Put biggest volume @ 4,579 Volume today. currently $5.10

Current conditions: 1:00 PM
AAPL @ 194.03 with 7,374,814 shares traded.
APVKT November 200 call biggest volume @ 15,735 Volume today. currently $1.75
APVWR November 190 Put biggest volume @ 9,041 Volume today. currently $2.55

Current conditions: 4:00 PM
AAPL @ 194.34 with 10,342,701 shares traded.
APVKT November 200 call biggest volume @ 20,217 Volume today. currently $1.75
APVWS November 195 Put biggest volume @ 13,333 Volume today. currently $4.30

The new good news: consumers are less panicked this year in comparison to last year.

Sweet. Here’s to my slightly less nervous neighbors!