PS Today's market summary...
The markets went up over 400pts based on nothing.. Slept right through it, to be honest. Deeply Boring.. Here was the rational though, for those who care: "First-time (jobless) claims fell below 400,000 last week for the first time in four months, a positive sign for the job market, gave investors a reason to test the market for stocks and currencies that traders consider riskier than the dollar." (AP)
You do know that reasoning is complete BS right? Just testing you.. of course you knew.. First, soulless cockroach investors were going to "buy on the dip" today even if new jobless claims were at 4 million- Think of real roaches-- no matter how much Raid you spray, they're coming out again at the first signal of food in the trash.
Second, let's say for argument sake, the official claims number for last week was 375,000. This is NEW unemployed-- in other words.. men and women who had jobs; a consistent paycheck coming in prior to last week and now poof.. they are not. These people are not going to find new jobs for a long time. This is a deeply sad situation, not one to be 'celebrating' as Wall St supposedly did today.. But you knew Wall St doesn't give a Fuck about you right?? Just testing again.. of course you knew.