TheStreet.com RealMoney

Expect Volatility After the Poor Jobs Data

By Rev Shark

 About this article:
 The jobs numbers are generally worse than expected, with losses of 190,000 vs. consensus of 175,000 or so and an unemployment rate of 10.2% vs. expectations of 9.9%. The workweek also dropped a bit, which is a negative, but there were some upside revisions in prior months. That 10.2% rate is going to be the headline we see this weekend, and that is not good for sentiment. Right now we are trading down on the news, so all the folks who missed out on the move can buy lower if they are so inclined. Are they more worried about being left out or about the poor numbers? I suspect we'll see the dip-buyers show up and give us green, but I don't think they are going to be overly aggressive. I'm looking for some whippy action. ...

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