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Markets Crash As Soviets Threaten USA

admin by admin
September 6, 2013
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Written by Gary

Opening Market Commentary For 09-06-2013

The futures were actually quiet until 30 minutes before the jobs report when they started climbing, which smacks of pre-disclouser to some and not to the general public, but why an I not surprised. This casino market is so rigged with the bankers getting all the ice cream leaving the rest of us with sour milk.

Some investors got really burned this morning when the SP500 fell 22 points after Soviet leader Putin did his saber rattling.

Markets gaped up on the opening, including the DOW, but removing the last gap made by NASDAQ on 8-26 – it is downhill for the small caps. The SP500 has one more gap to fill at 1684.83 and I expect the 500 (and other averages) to rise to at least that level.

Markets were +0.10% to +0.30% on the opening and those manipulating crooks that bought in the premarket started selling sucking in all the sheeples that put in opening market orders. Then the averages started to tumble, really fall like a waterfall. What a crooked and fixed institution.

Then to make matters worse, about 15 minutes after the opening, perfect timing huh, Putin made his market crashing announcement, “We will help Syria if there are any attacks”. This guy is making Obama the laughing stock of the World.

Indicators are still showing a predominately sell, but others indicate we are not over indicating the averages could climb back up to test previous highs – be careful.

The LBS reported this morning that the U.S. economy added 169,000 jobs in August, missing analysts’ prospects of 180,000. However, the jobless rate fell to 7.3% which is, the lowest since December 2008, but less than estimates that it would hold steady at 7.4%. In other words, wait for a revision next month as these numbers are picked out of a hat.

According to FoxNews, “The labor force participation rate, which gauges the proportion of population in the labor force, fell to 63.2% from 63.4% in July, the lowest since August 1978”.

Ah, but the details, always the devil is in the details as reported by Zerohedge.

August Jobs Rise 169K, Less Than Expected, Unemployment Rate 7.3%, Huge Downward Revision To July Print

A messy report out of the gate with the number of jobs added in August at 169K, or as predicted by ADP, worse than the 180K expected.

However this was offset by the Unemployment Rate dropping from 7.4% to 7.3%, on expectations of an unchanged print.

. . . what has shocked the market is the revision to the July jobs number from 162K to only 104K, resulting in a net drop of 74K jobs.

This broke the average 2013 jobs gain of 200K which previously was said by the Fed to be the key threshold level for tapering.

The question now is: is this print bad enough to delay the taper?

Correctly ‘guessing’, of course, is the tricky part of the successful trading equation lately – like this morning. Any trades today will probably end up on the meager side of profitability if you are lucky as most trades have been less than optimal during the past several years.

Maybe we have seen the top – but don’t count it going higher than the previous highs if the bull run continues.

The DOW at 10:15 is at 14814 down 109 or -0.74%.

The SP500 is at 1647 down 8 or -0.49%.

SPY is at 165.14 down 0.83 or -0.50%.

The $RUT is at 1020 down 9 or -0.85%.

NASDAQ is at 3633 down 27 or -0.75%.

NASDAQ 100 is at 3110 down 20 or -0.63%.

The longer trend is up, the past months trend is bullish, the past 5 sessions have been sideways and the current bias is down.

How Oil Really Gets Priced

WTI oil is trading between 108.12 and 109.81 today. The session bias is bullish and is currently trading up at 109.55.

Brent Crude is trading between 114.87 and 115.93 today. The session bias is bullish and is currently trading up at 115.66.

Gold rose from 1361.78 earlier to 1392.72 and is currently trading up at 1388.20.

Here’s why copper has lost its indicator role

Dr. Copper is at 3.260 from from 3.287 earlier.

The US dollar is trading between 82.65 and 82.06 and is currently trading down at 82.08, the bias is currently negative.

To contact me with questions, comments or constructive criticism is always encouraged and appreciated:

[email protected]

 

Written by Gary

 

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