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Stocks jump on strong jobs report for January
Old 02-03-2012, 12:47 PM   #1
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Stocks jump on strong jobs report for January

Stocks jump on strong jobs report for January - Yahoo! Finance

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U.S. stocks jumped Friday on news that the unemployment rate dropped to the lowest level in three years.
Before the market opened, the Labor Department said companies hired 243,000 employees in January. That's the strongest job growth in nine months. The increase in hiring pushed the unemployment rate down to 8.3 percent.
The surprising data gave stocks a jolt. The Dow Jones industrial average shot up 161 points in early trading before drifting lower. "In this economy only one variable matters right now and that variable is employment," said Lawrence Creatura, an equity portfolio manager at Federated Investors.
I am a little skeptical about any explanation for stock market ups and downs. However, if this story is correct then we should be in for quite a bull market as we recover from the unemployment situation we have been going through, which will eventually happen. We still have quite a way to go.

"Wh - - - " oh, OK, I won't say it (yet).

But maybe a little solitary dancer....

P.S. - - please, please, PLEASE don't turn this political! Let's just share in the joy. Thanks guys.
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Old 02-03-2012, 12:51 PM   #2
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I have every confidence the market will find something to fret about the next day or two and wipe out most, if not all, of today's gains.
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Old 02-03-2012, 12:53 PM   #3
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I have every confidence the market will find something to fret about the next day or two and wipe out most, if not all, of today's gains.
You are probably right. I really don't believe the explanations for market ups and downs that are presented by the media. If anyone knew why these movements occur, they'd probably be too busy making money to share their insights.

Still, it's great to see one's portfolio jump like this. Why didn't anyone ask how our portfolios are doing compared with a year ago, THIS week?
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Old 02-03-2012, 12:59 PM   #4
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Why didn't anyone ask how our portfolios are doing compared with a year ago, THIS week?
Because it isn't over until the fat lady sings - meaning you've sold your holdings and booked the profit.

Market flux is nothing more than what happens in life. Up today, down tomorrow.

(However, I did sleep at a Holiday Inn Express, last night )...
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Old 02-03-2012, 01:00 PM   #5
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So............when did we start believing govt data? I think "govt economic report" should be the newest oxymoron in the Webster dictionary.........
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This Thread is USELESS without pics.........:)
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Old 02-03-2012, 01:07 PM   #6
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So............when did we start believing govt data? I think "govt economic report" should be the newest oxymoron in the Webster dictionary.........
THEY are using that as one of a bazillion flimsy reasons for the market jumping. So what? I don't think they have a clue, personally. They could say it was due to February madness or Puxantawny Phil's predictions of how long winter will last, and it wouldn't really matter.
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Old 02-03-2012, 01:10 PM   #7
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Whatever reason is behind this rally, I am enjoying it!
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Old 02-03-2012, 01:10 PM   #8
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Because it isn't over until the fat lady sings - meaning you've sold your holdings and booked the profit.

Market flux is nothing more than what happens in life. Up today, down tomorrow.

(However, I did sleep at a Holiday Inn Express, last night )...
You are so right - - it really doesn't matter unless one is selling. Still, it takes my breath away just to look at it soar.

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Whatever reason is behind this rally, I am enjoying it!
Me, too! Who knows, I might end up a Vanguard Flagship member out of this if it keeps up.
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Old 02-03-2012, 01:27 PM   #9
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Old 02-03-2012, 01:30 PM   #10
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I just initiated a transfer of my IRA from another fund company to Vangaurd. I know its long term but it annoys me to think I'll miss out on several % while the money is floating between institutions.
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Old 02-03-2012, 02:02 PM   #11
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So............when did we start believing govt data? I think "govt economic report" should be the newest oxymoron in the Webster dictionary.........
+1

Unfortunately, they only told half the story (I'll stop there, less I get tagged as being political )...
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Old 02-03-2012, 02:26 PM   #12
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I have every confidence the market will find something to fret about the next day or two and wipe out most, if not all, of today's gains.
Oil prices. And all the saber-rattling over Iran, which... well, oil prices.

As long as oil prices spike on any sign of economic strength, there will be a limit to the legs the recovery will have.
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Old 02-03-2012, 02:26 PM   #13
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It's split personality time. When the market tanks, one person in me goes "Oh no! The values of my holdings are going down. At least I'm buying more shares." When the market soars, one person in me goes "Yes! The values of my holdings are going up. Darn, I'm buying less shares."

Good thing I just try to follow indexes, rebalance annually and DCA to keep myself honest.
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Old 02-03-2012, 02:27 PM   #14
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They could say it was due to February madness or Puxantawny Phil's predictions of how long winter will last, and it wouldn't really matter.
What I want to know is, how could Phil predict 6 more weeks of winter when winter never even arrived for many of us?
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Old 02-03-2012, 02:34 PM   #15
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I'm just glad that people are finding jobs. I may not need one, but others do. I'll let the market do what it will!
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Old 02-03-2012, 02:45 PM   #16
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What I want to know is, how could Phil predict 6 more weeks of winter when winter never even arrived for many of us?
Simple - just playing the odds.

As they say, a broken clock is correct, twice a day ...
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Old 02-03-2012, 03:06 PM   #17
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Stocks jump on strong jobs report for January - Yahoo! Finance



I am a little skeptical about any explanation for stock market ups and downs. However, if this story is correct then we should be in for quite a bull market as we recover from the unemployment situation we have been going through, which will eventually happen. We still have quite a way to go.

"Wh - - - " oh, OK, I won't say it (yet).

But maybe a little solitary dancer....
.
"Wh---" geez what a tease.

Come on it is only a few more letters, then I can sell everything.
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Old 02-03-2012, 03:28 PM   #18
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THEY are using that as one of a bazillion flimsy reasons for the market jumping. So what? I don't think they have a clue, personally.
+1

I must admit, today's market jump did get me to re-balance a wee bit early. My plan says re-balance when I hit 63% equities. Yesterday's close put my portfolio at 62.9% equities. I'm betting today's bounce would have pushed me to 63% equities, so I sold equities today instead of waiting til Monday.

That sale would have been a personal rule violation, except some headline said NASDAQ hit an 11 year high today. To force myself to be contrary, I am allowed to lower my equity allocation when equities hit at least a one year high, and to raise my equity allocation when equities hit at least a one year low. Obviously, I'm NOT a momentum investor.

Having a major index hit an 11 year high does not make me think a bull market is starting.
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Old 02-03-2012, 03:47 PM   #19
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Wooooo - can't wait to check my Vanguard later this afternoon *rubs hands with glee* - AND, we'll have the whole weekend to look at our bigger account balances before Monday reduces them again

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Oil prices. And all the saber-rattling over Iran, which... well, oil prices.
Anytime I read an article talking about the potential for another war, it gives me the willies in a big way. Can we please have an extended period in which we are not at war with anyone, or considering it? I really don't want to have to consider moving to Liechstentein.
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Old 02-03-2012, 03:47 PM   #20
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Funny. When I saw the market react late this morning, I actually thought about a "wh__" thread. But I knew W2R would probably start it (again)...
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