Day Trading – The Bullz And Bearz
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Unemployment Raises To 9.5% – Futures Tank
July 2nd, 2009
Wow…what a kick in the back for the bulls huh? Can’t be too surprised right because I’ve been talking about employment like a broken record forever now. You CANNOT have economic growth in our economy if people continue to lose their jobs – period, end of story! No matter how much money the GOV’T puts into the system, out of work is out of work for the rest of us. After the news, the futures took a great NOSE-DIVE as show below in the /ES chart. Amazing how in the blink of an eye things change so rapidly. Look at the spike in volume!
Should be a great day for us bearz who are positioned to profit from this fall. Not going to count my chickens before they hatch but some of our SHORTS are already down more than 5% today! A big close down would be wonderful heading into the long holiday weekend.
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Today's Live Market Quotes & Charts
| NASDAQ | 2905.66 | ||||
| S&P 500 | 1344.90 | ||||
| ^TNX | 1.95 | ||||
| ^XAU | 200.34 | ||||
| ^XOI | 1295.01 | ||||
| EEM | 43.88 | ||||
| IWB | 74.77 | ||||
| GLD | 167.64 | ||||
| GDX | 56.44 | ||||
| UDN | 27.33 | ||||
| UUP | 22.03 | ||||
| FAZ | 25.93 | ||||
| ERY | 9.83 | ||||
| CMD | 52.74 | ||||
| RWM | 26.27 |
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