We’re somewhat lucky the markets are closed today with the monthly employment number coming in far under expectations. The consensus estimate was for 210k new jobs, the actual number was just 120k. No doubt that would have exacerbated the weakness we’ve already seen in the markets and most likely pushed us down to the lower end of the trading range and challenged support. The one upshot for the market is this jobs report is so bad it could be good if it makes further quantitative easing by the Fed more likely. It will be interesting to see how the market responds on Monday.
Jani Ziedins (pronounced Ya-nee) is a full-time investor and writer who has successfully traded stocks and options for more than a decade. He earned a B.S. in Mechanical Engineering from the Colorado School of Mines and an MBA and M.S. Marketing from the University of Colorado Denver. His prior professional experience includes manufacturing engineering at Fortune 500 companies, structural engineering, small business consultant, collegiate instructor, and managing investment real estate. He is now fortunate enough to trade full-time from home, affording him the luxury of spending extra time with his wife and two young children.