initial claims 574 k--wow !!!

NY_HOOD · Dec 11, 2008

claims up to 574k and last weeks number revised upward. this weeks number was 40k higher than estimates.

gnome · Dec 11, 2008

What's it going to take.... a job loss report of 1 million before Mr. Market says, "hey, that's something"... ??

ASusilovic · Dec 11, 2008

Quote from NY_HOOD:

claims up to 574k and last weeks number revised upward. this weeks number was 40k higher than estimates.

Thats bullish. Santa Claus bullish.

trader_arb · Dec 11, 2008

There was an article I read within the last few weeks about how the unemployment offices are so busy, they have increased staffing to deal with the enormous amount of claims coming in.

Bullish!

hilojack · Dec 11, 2008

Quote from trader_arb:

There was an article I read within the last few weeks about how the unemployment offices are so busy, they have increased staffing to deal with the enormous amount of claims coming in.

Bullish!

You know, if they took all of the unemployed people, and put them to work in the unemployment office, we wouldn't be in this mess at all.

nutmeg · Dec 11, 2008

Quote from hilojack:

You know, if they took all of the unemployed people, and put them to work in the unemployment office, we wouldn't be in this mess at all.

Great idea. But first wait until their benefits run out, then give 'em job at the unemployement office. No sense hiring people to work for the money.

huh · Dec 11, 2008

I believe the market is expecting unemployment to reach around 9% next year which means that we're probably looking at around 3 - 4 million lost jobs next year which means losing 250K - 300K job losses every month for the NEXT 12 MONTHS. So I don't see anything new here. Obviously if we hat 3 million jobs lost by next march then that would be scary but so far nothing unexpected.

We're due for a pullback but I see no reason to break the 740 low unless the auto bailout fails or we get bad earnings starting in January.

robbie380 · Dec 11, 2008

Quote from gnome:

What's it going to take.... a job loss report of 1 million before Mr. Market says, "hey, that's something"... ??

lol maybe it's the ppt? :eek:

stock_trad3r · Dec 11, 2008

Quote from NY_HOOD:

claims up to 574k and last weeks number revised upward. this weeks number was 40k higher than estimates.

bfft only .1% higher than estimates. Not a big deal at all. it's all priced in. buy all dips.

stock_trad3r · Dec 11, 2008

Quote from huh:

I believe the market is expecting unemployment to reach around 9% next year which means that we're probably looking at around 3 - 4 million lost jobs next year which means losing 250K - 300K job losses every month for the NEXT 12 MONTHS. So I don't see anything new here.

thats why you buy now