In fact, I would not be surprised if by Friday’s close we get up into the 1,980 kind of range, on the S&P, but that remains to be seen.
Such volatility in markets could be a marvelous thing, but we will see how things look over time before laying on a trade that was described well on out www.peoplenomics.com site on Wednesday.
If you’re playing the home version of this from the cheap seats, the theory says the upside target should be in the 1,950 arena…or higher. How much higher is the only question.
This morning (since we will be off the ground in a few minutes and continuing our adventures) look to the ADP Employment Report website here for the newest number. Up 200,000 was really good and the Challenger Job Cut numbers comes today.
Tomorrow morning, the federal Employment Situation is out…and that should push the S&P up to at least our targets. Firming employment is a good thing, and I’d expect a 1 or 2-tenths drop in the rate.
That is a two-edged sword though.
If the rate is too low, it will scare the Fed into a rate-raising mood. But, if they raise rates, then the cost of the accumulated Federal debt will rise (as the cost of money does) and then things will get terrifying.
One thing that seems like a very good bet: Although we expect volatility through the end of the year (or first couple of weeks of December, anyway) our outlook for a rosy – optimism-filled – 2016 remains high.
I expect by mid next week, Glencore worries will come screaming back and the market to crater, but then I never was a happy child.
Flies in the Oinkment
Oinkment: The lubricant applied by politicians before they have their way with the people.
There are, like you haven’t noticed, some real issues out there, not the least of which is presidential politics.
We’re pleased no end that the aristocracy damnocrats (Jeb and Hil) are not doing too well. Instead, people are ponying up bucks for the Bernie Sanders campaign.
As I have said repeatedly: I’ll take an honest socialist over a crooked cratican any day.
Crooked in the sense that they say one thing before taking off and do exactly opposite once in.
We Have a Winner
It’s not us, but check your PowerBall ticket if you live in the Three Rivers area: Someone is walking around with a cool $310-million. Even after federal taxes, that’ll still buy you any political office you can name, except president and supreme corporates.
Our Next Tourism Option?
With it, we will likely change our next Pacific Northwest visit to a driving trip instead of a flying trip. The 30-day wait after to pass a screen just isn’t in the budget. Besides, I am allergic to dogs.
It will be interesting, when you get some time, to see how low the insurance industry was able to set the threshold for detection there.
For the latest, click over to the National Hurricane Center website here.
You can forgo the senseless advertising, huge streaming load times, and endless weather hype and bullshit.
It’s like Joe Friday used to say. (Just the facts, ma’am…)
With that, we’re off…in all manner of speaking.