Saturday, October 3, 2015

Equities Through The Looking Glass

As I was posting yesterday's "Headlines You Don't Want If Long: "Bank stocks rocked by weak jobs data"n (XLF; BKK)" I was thinking "But aren't weak jobs reports what we all want?"

Corey at Afraid to Trade captured the new reality with his first line in "Oct 2 Bad Jobs Report Bull Market Update and Stock Scan":
The Jobs Report was worse than expected so let’s buy stocks because the Fed won’t raise rates!!!
All I had was "I'm guessing there won't be a rate hike this year."
The Dow Joneses had a 459 point reversal from the bottom, closing 4/10 point off the daily high.