Quick note this morning: The jobs came in at 78K, far below the 180K estimates, and last month's 274K stayed the same. The bond market is having a good time this morning. The stock market was soft overnight and did bounce a little on the jobs report but is not going to produce the type of pop that we would like to have seen. That is not to say that today does not represent a good top, today is our pick for that as indicated in our writings over the past two or three weeks. If the market is finally putting things together, there could be a dramatic shift in market psychology, something we like to call a sea change.
The time to act is now if you haven't already. Cash is King and gold may be the best currency for you to have. Gold is trading near $424 this morning.
Have a great trading day and a peaceful weekend. We'll be back next week.
PS Don't forget to look at last night's post below.
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