This is going to be an exciting week that began with a hurricane, but it could end with a firestorm after the jobs report is released on Friday. There was tremendous controversy the last time out after the unemployment rate plunged. I think we need a benchmark participation number; the month Reagan came into office would be a great starting point and use that to assess the unemployment rate. This way we get a true reflection of the US economy currently, and historically. Of course, I've argued that employment-population ratio is the best component anyway.
Be that as it may, I'm bracing for an October Surprise on Friday, but it could be a hell of a ride just to get there. You can ride out turbulence with the new picture book from President Obama- his new glossy on fixing the economy is kind of funny https://secure.assets.bostatic.com/pdfs/Jobs_Plan_Booklet.pdf.
Actually everyone should read the President's plan, and Romney's plan, but also really consider what's going on in the nation. This earning season has been ugly. This is a trend that's been going on for some time, but the market was able to rationalize poor time results with earnings beats. Maybe, it's because this has occurred for so long, and has gotten worse, the street is junking the spin and spying the exits.
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for July 22nd, 2014 | John Ransom