Friday, August 7, 2009

Jobs Jobs Jobs -- All Day Today!

That's all you're going to hear about today, beginning with the employment report release at 8:30 EST. Wall Street consensus is looking for a 330k drop and a slight uptick to 9.6% on the unemployment rate.

LandColt Trading is forecasting a drop of 350,000 and a pop to 9.7% on the rate.

For traders, keep the nice round figure of 350,000 on top of mind, because a figure less than 350 and the bulls will be running; greater than 350 and the bears will return. Just at 350?? Well, everyone will head to the Hamptons.

Look for comments from the White House following the release, especially if the print is favorable.

Full analysis later.
Todd M. Schoenberger
LandColt Trading

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