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Direxion Shares ETF Trust - Direxion Daily Financial Bear 3X Shares Message Board

  • fobama72 fobama72 Jan 5, 2010 10:08 PM Flag

    Any speculation to what the + unemployment #s will do on Friday

    I recall the markets' reaction last time around:

    http://www.bloomberg.com/markets/ecalendar/index.html
    and this


    The Dow Jones Industrial Average closed at 10388 on 12/4/09, as the stock market went on a roller coaster ride on a positive employment report. The Dow Jones Futures surged in pre market when we found out that the US only lost 11,000 jobs in the month of November in addition to positive revisions to the prior months. The unemployment rate fell to 10%. This news caused the stock market averages as well as the US Dollar to both surge. We also saw money come out of Gold as the metal fell over $60.

    After it appeared the stock market could be up huge with the US Dollar, the Dollar began to build steadily on It's gains throughout the trading day. The stock market then began to tank! The Dollar basically went from $75.20 to $75.85 which was bearish for stocks and gold.

    The dollar seems to be moving higher due to short covering and the fact that positive job growth could spur the Fed to raise interest rates sooner then expected. As you can see, there are a lot of moving parts in the stock market right now. Next week will be light on economic data so I'd expect the volume to be light. I am watching 1120-1130 on the S&P 500, if we can closes above 1130, we will begin the next leg higher.

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