As this is payroll data week (and ADP is showing an increase) you might want to keep your eye balls peeled onthese employment stocks.
3 comments:
Anonymous
said...
There appears to be a huge coordinated effort and PR campaign underway to disparage commodities...
Like a Blitzkreig, many trading houses are bashing oil, copper and gold left and right...
Congress is shouting 'manipulation' from the pulpit...
Funny thing is, the USD is no higher than it was Monday morning open.
And traders are covering commodity shorts on all this negative hype...
Silver hasn't gone any lower than it was May 30th
Even funnier, this morning all the leading commodity stocks are up (so far anyways) with the runup ahead of the jobs report.
The question is: was this nothing more than another commodity takedown? (perhaps ahead of upcoming bad news??)
If so spec money will just rush back in sensing the 'reflation' game is back on.
Traders know talk is cheap - they also can sense a selloff versus 'take down'...
And traders will just try to repeat what they have done in the past - and buy back in expecting reflation which will lift all boats.
It will be if this trade fails for them - when we could see a large correction in commodities.
Either way the equity market has taken all this as a positive - as it always does... getting the pump ahead of the jobs numbers..
Still watching to see if the 08 pattern plays out (with a pump up into next quarters earnings) - or whether the Ibanks will put a damper on things and that nebulous wave 3 of 3 of 3 gets underway...
3 comments:
There appears to be a huge coordinated effort and PR campaign underway to disparage commodities...
Like a Blitzkreig, many trading houses are bashing oil, copper and gold left and right...
Congress is shouting 'manipulation' from the pulpit...
Funny thing is, the USD is no higher than it was Monday morning open.
And traders are covering commodity shorts on all this negative hype...
Silver hasn't gone any lower than it was May 30th
Even funnier, this morning all the leading commodity stocks are up (so far anyways) with the runup ahead of the jobs report.
The question is: was this nothing more than another commodity takedown? (perhaps ahead of upcoming bad news??)
If so spec money will just rush back in sensing the 'reflation' game is back on.
Traders know talk is cheap - they also can sense a selloff versus 'take down'...
And traders will just try to repeat what they have done in the past - and buy back in expecting reflation which will lift all boats.
It will be if this trade fails for them - when we could see a large correction in commodities.
Either way the equity market has taken all this as a positive - as it always does... getting the pump ahead of the jobs numbers..
Still watching to see if the 08 pattern plays out (with a pump up into next quarters earnings) - or whether the Ibanks will put a damper on things and that nebulous wave 3 of 3 of 3 gets underway...
I just did a rough calculation
In the last 7 days, looking at swings greater than 3$ ,
Oil has travelled almost $40
Nothing fundamentally has changed in those 7 days.
Yet we are told there is no 'speculation', no meddling by one side or another....
I have only been trading the energy market (mostly energy stocks) for about 3 years -->
... but my conclusion is plain and simple:
Oil is trading like a high beta stock... not a commodity anymore.
nice
btw
Did Beeks leak the job report?
LOL always liked that movie (Trading Places)
USD dropped right from the open today...
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