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Started By
Message
The Jobs report came in hot. Futures are droppings.
Posted on 1/5/24 at 7:43 am
Posted on 1/5/24 at 7:43 am
The 2024 slide continues.
Tech has been wrecked 5 percent this week.
Tech has been wrecked 5 percent this week.
This post was edited on 1/5/24 at 7:46 am
7
Posted on 1/5/24 at 8:05 am to Future LSU Tiger
I'm glad I pulled some money to the sidelines. Not a ton but a decent chunk to deploy if it continues.
Posted on 1/5/24 at 8:07 am to Future LSU Tiger
quote:
The Jobs report came in hot
Prolly to be revised sharply downward in a future report.
Posted on 1/5/24 at 8:15 am to Future LSU Tiger
quote:The NASDAQ Composite Index is down 3.3% this week.
Tech has been wrecked 5 percent this week.
The tech-heavy NASDAQ 100 Index is down 3.2% this week.
Why exaggerate?
Posted on 1/5/24 at 8:18 am to SloaneRanger
quote:so which is it, are they trying to prop up the stock market or not
Prolly to be revised sharply downward in a future report
Posted on 1/5/24 at 8:20 am to castorinho
I have no idea what "they" are trying to do. In the last couple of years it just seems like every report gets revised downward at a later date.
Posted on 1/5/24 at 8:20 am to SloaneRanger
Read the article. Revised October & November job numbers downward
Posted on 1/5/24 at 8:21 am to Billy Blanks
quote:
I'm glad I pulled some money to the sidelines. Not a ton but a decent chunk to deploy if it continues.
Nasdaq was up so big last year that I knew that there were a lot of people with one finger on the sell button just waiting for the tax year to flip.
A no brainer that tech would sell off this week, the only question is how far.
Futures are starting to recover some now.
Daq no longer down 100.
This post was edited on 1/5/24 at 8:24 am
Posted on 1/5/24 at 8:23 am to Future LSU Tiger
quote:
Futures are droppings.
Well done.Posted on 1/5/24 at 8:25 am to NC_Tigah
quote:
Futures are droppings.
Well done.
You're the only one that caught that.
Well done.
Posted on 1/5/24 at 8:44 am to Future LSU Tiger
Good call
Posted on 1/5/24 at 8:47 am to Future LSU Tiger
Jobs report came in hot all of 2023. S&P was up 24% in 2023.
Posted on 1/5/24 at 8:50 am to SloaneRanger
quote:
In the last couple of years it just seems like every report gets revised downward at a later date.
When I checked last month the previous two month had been revised UP
Posted on 1/5/24 at 8:50 am to slackster
Well done...
Posted on 1/5/24 at 9:07 am to Future LSU Tiger
quote:
Nasdaq was up so big last year that I knew that there were a lot of people with one finger on the sell button just waiting for the tax year to flip.
Yep. Tax selling is going on now.
As for the jobs report, it’s not totally out of line and we should expect to see some surprises along the way (where?)
Imo, rates are going to be a big driver. I don’t see that rates will be dropping at all in the first half of this year. I’m certainly expecting some rate drops by the 4th quarter albeit small
And the market is up on the jobs report
This post was edited on 1/5/24 at 9:26 am
Posted on 1/5/24 at 9:07 am to slackster
quote:
Good call
Well, since you're trying to be a smart arse I guess that I should let you know that I shorted the market last week with SQQQ.
Got in at $13.15 and got out this morning at $15.10.
So actually it was a good call, I just didn't want to brag while other people are losing money.
Have a nice weekend.
Posted on 1/5/24 at 9:20 am to SlidellCajun
quote:
As for the jobs report, it’s not totally out of line and we should expect to see some surprises along the way (where?)
Imo, rates are going to be a big driver. I don’t see that rates will be dropping at all in the first half of this year.
This.
Continued lower energy costs and continued increases in job creation (although not blistering, still positive) by themselves creates an environment for continued inflation stickiness. If the Fed lowers rates in such a scenario, it risks pumping inflation back up.
Posted on 1/5/24 at 9:26 am to Future LSU Tiger
quote:
Well, since you're trying to be a smart arse I guess that I should let you know that I shorted the market last week with SQQQ. Got in at $13.15 and got out this morning at $15.10. So actually it was a good call, I just didn't want to brag while other people are losing money.
Damn dude, bring those hot tips here beforehand. I don’t recall your post shorting things before they went down.
Posted on 1/5/24 at 9:33 am to JohnnyKilroy
quote:
When I checked last month the previous two month had been revised UP
10 of the last 11 months revised downwards is what I saw. No sense arguing. The numbers are what they are and people can see for themselves.
Posted on 1/5/24 at 9:37 am to SloaneRanger
quote:
10 of the last 11 months revised downwards is what I saw. No sense arguing. The numbers are what they are and people can see for themselves.
IIRC, the household survey is starting to catch up. The argument in much of 2022 was that BLS numbers were way high and household survey was much lower, but I believe that trend has started to reverse. I’ll check later and see if I can find some numbers on it.
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