It was a shocker. We only created 18,000 jobs and unemployment jumped up to 9.2% – how can we say things are getting better when here we are basically two years after the low in the equity markets with unemployment still stubbornly stuck over 9% and probably going back over 10%.
Folks, there is no “Plan B”. For the past two years, this administration has declared warfare on business, particularly small businesses – the folks who actually create jobs in this country!
It is amazing to me that they could be so blinded with their political philosophy that they have actually forgotten that there are real people out of work that need jobs. Small businesses – the very people who create 70% of all jobs in America, are being punished as the current administration wants to tax them more. How stupid can things get. Oh, they can get pretty stupid.
As I mentioned a few days ago, I felt that the S&P was in thin air and also as cyclic high. I think we could be seeing the start of a 15 to 20 day correction. We also recommended taking some money off the table in our crude oil trade which also went very well.