Feb

6

Nobody asked me but…

February 6, 2022 |

1. the markets were not happy with the employment numbers but the administration was. bonds had their worst reaction to a Jan employment number ever falling more than 2 points from wed close to fri close of 153 and 16/32 from 155 and 25/32. S&P fell both thur and friday by a total of 60 pts. the german dax fell by 3.5%. yet the admin was ebullient. it started a new idea of prosperity caused by the D's, that goes along with the daring strike against ISIS masterminded and ordered by the Pres.

2. the Jan employment numbers are notoriously meaningless because season adjustment swamp them. actually employment fell by a large amount but seasonal adjustments swamped them.

3. the admin presumably gets the numbers a few days in advance and the hands at the BLS work hard to receive 3 chairs from the next meeting of all the pronoun people and the systematic racism people at the Fed and Treasury at camp Kinderland.

4. you have to hand it to them as it was a grand deception to have everyone talking about how the numbers were going to be so dismal and terrible when they presumably knew what the announced seasonally adjusted number was. since when does press secretary psaki become an expert on the intricacies of the reporting periods and collection periods of employment data? amazingly crypto went up 10 % within 10 minutes of the Amazon announcement.

5. we live in a world where everything is politics and all media is geared to help the Prez along. No wonder we were able to disable the helicopter in a jiffy on the 2 1/2 hour raid but were unable to disable 70 billion worth of equipment in Afghanistan.

6. close was amazingly bullish for S&P and the prediction of a new ATH in 8 days is intact. we've gone 21 days since the last one.

7. haven't heard anything about bearishness of the Jan barometer lately. why? like all technical indicators, it's subject to multiple classification and ever-changing cycles.

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