part 2

3. Well another fairy tale from DC as they came with an upside surprise of 244k new jobs they increased the fake part dramatically as last months they only added roughly 100k by the so called birth /death model ( which is a number of pure imagination which evil morons in DC use to cook statistical lies). Obama boys are very bold when it comes to lying to the public as they now increased that pace to 175k of imaginative jobs.

Futures have rallied quite a bit to confirm the lows of yesterday may be the ones to hold after the NDX defended the gap for a third day and SPX hold above the 1330 level. Still markets are in the making of a big and severe top and within 2-3 weeks a big sell off should start.

Since we have next week some benign astro days the basic momentum should be back to the upside after Mondays kick off but one sector may keep suffering as basic materials will remain under distress as commodities will be rather on the falling side.

excerpt

NFP +244,000, 9% Unemployment, Birth/Death Adjustment +175,000

Submitted by Tyler Durden on 05/06/2011 08:28 -0400

And so much for all economic data indicating a drop. The BLS just reported the biggest monthly gain since February 2006. From the release: “Nonfarm payroll employment rose by 244,000 in April, and the unemployment rate edged up to 9.0 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in several service-providing industries, manufacturing, and mining.” And yet: Birth/Death adjustment +175,000.

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~ by behindthematrix on May 6, 2011.

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