Friday, December 4, 2009

Intraday action

Strange trading going on.  The DJIA tanked HARD on large volume going into yesterday's close, perhaps anticipating a weak BLS jobs figure this morning.

That turned out to be incorrect, at least on the "headline" data that showed a tiny loss of 11k jobs.  As I pointed out earlier, these numbers are a joke, and that could be why the market quickly resumed yesterday's selloff.

Among gainers today are the staffing firms, up on the perceived improving jobs climate.

Copyright 2009 AlphaNinja

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