The bad news in the jobs report for traders —

[nitrene]

The jobs situation (in terms of tightness) is not going to subside until the gov't stops handing out $20B - $30B EXTRA every month in emergency Covid aid under a bunch of different programs.

My home state (CA) is giving out inflation checks of up to $1050 per household. I'm sure that will reduce fuel prices here. These people are so stupid. The governor here is a real imbecile.

 

[murray t turtle]

You should just short 1 MNQ contract -- its only $22K notional.

%%
I've done enough ES already;
no thanks.
Nickname Buy 1sell 2 ,does well swing trading ES, no thanks on that also, works OK for him ; i have enough drawdowns already........................................................
And i dont mind paying up sometimes for ETFs \ not all the time[Good thing about CA, great food producer + lots of people are voting against CA Hi taxes + overregulation by CA exits\LOL]

 

[MKTrader]

My home state (CA) is giving out inflation checks of up to $1050 per household. I'm sure that will reduce fuel prices here. These people are so stupid. The governor here is a real imbecile.

I agree with that. However, many employers were forced to shut down for a long time. I'm not a fan of any type of handout but I have less of a problem with businesses who kept paying their employees getting aid than some non-working bum eating Cheetos and watching porn at home...or an unemployed gender studies major getting a break on a student loan for a worthless propaganda degree.

 

[savoir]

My home state (CA) is giving out inflation checks of up to $1050 per household. I'm sure that will reduce fuel prices here. These people are so stupid. The governor here is a real imbecile.

It is by design, not out of stupidity. They could have easily suspended gas taxes like other states but then they won’t have control over picking winners and losers.

We don’t get rebate checks. The result is the rebate program works as an additional tax on the higher income brackets. But it’s chump change.

Look on the bright side. 100-point trend days on the ES do not occur in a vacuum. The policy makers contribute to the conditions that make them possible. These conditions won’t last. Make hay while the sun shines.

 

[Businessman]

This does make it tough for traders because there are random whip saws both to the up and to the down and they come out of nowhere.

Out of nowhere? It was NFP day...

 

[Bad_Badness]

Not violent whip saws that come out of nowhere.

Huh? Island gap on a double bottom test? That is a text book pattern. Whipsaws just don't happen. They get setup.

Anyone who did not suspect the bounce was

1) short covering, ESPECIALLY after the test only slightly made a new low, and did not follow through,
2) then second day of the bounce was a chance to reestablish a short.

is a newbie and/or too much reading of "news" and/or pundit and not enough basic chart reading.

 

[murray t turtle]

It is by design, not out of stupidity. They could have easily suspended gas taxes like other states but then they won’t have control over picking winners and losers.

We don’t get rebate checks. The result is the rebate program works as an additional tax on the higher income brackets. But it’s chump change.

Look on the bright side. 100-point trend days on the ES do not occur in a vacuum. The policy makers contribute to the conditions that make them possible. These conditions won’t last. Make hay while the sun shines.

%%
Good points;
i thinks its like what Dr Ben Carson MD called ''gov health care= gov slavery''They plan it that way; control freaks.
One of the strange things about trends, most all the news seems to help the main trend, generally[down bound, bear trend.]
On an uptrend / bull trend,200 day moving average, market tends to shrug off even bad news.
THAT was unexpected / severe gap SPY up like that on OCT 4th; i expect gap down$ in bear trends\ down bound. Not a prediction.

 

[SunTrader]

My Gub is no dummy, he suspended Florida state fuel tax for all this month, with Election Day right around the corner to get his azz re-elected.

Maybe the country might take him off our hands in 2024.

Meanwhile this vol is great!!!!!!!!!!!!!!!!!

 

[TheDawn]

The bad news- we created more jobs than expected and the unemployment rate actually dropped.

the real bad news- the job participation rate fell. That means the labor market is still very tight.

This does make it tough for traders because there are random whip saws both to the up and to the down and they come out of nowhere.

Where did you get the job participation rate information?

 

[TheDawn]

My home state (CA) is giving out inflation checks of up to $1050 per household. I'm sure that will reduce fuel prices here. These people are so stupid. The governor here is a real imbecile.

That is a very stupid move. He is exacerbating inflation by handing out more paper. The real way to quell inflation is to pump more oil and get people out of the house to work to earn money.