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Two Ways: Unemployment May Hit 25-Year High


Strenghten your portfolio in good times and bad.


Disappearing Jobs

The monthly job report is due out this morning, and according to a Reuters poll of 78 economists, job losses are likely to hit a 25-year high, totaling 648,000 in February. This as
companies continue to take drastic measures in cutting costs.

US employers cut 598,000 positions in January. The unemployment rate is expected to increase to 7.9% from the 7.6% reported last month. This new number would be the highest since January 1984.

For more context on our economy, see Mr. Practical's Deflation Redux.

From the Bull Pen: The most bullish scenario may possibly be a down open in the equity markets - for a trade, that is. Bulls can use a variety of the leveraged ETFs -- like the Ultra Long S&P 500 (SSO) or Direxion 3x Small Cap Bull (TNA) -- using a 2% sell stop from entry.

From the Bear Cave: Bears can consider downside plays in education stocks. Apollo Group (APOL) may be an option. A rally to near $70 may provide a better entry. If and when.

Quick Check Around the World

Asian trading closed with the Hang Seng -2.37%, Nikkei -3.50%, India 1.56%, Taiwan 0.35% and Shanghai -1.26%.

Glancing towards Europe, we see the CAC -0.99%, DAX -0.97%, FTSE -0.50%

As of 8:05 AM EST, S&P Futures are trading -3 to 683, and Nasdaq futures are -10 to 1076.

A Look At Commodities

Crude oil is trading +0.55 to 44.16. Gold is +9.50 to 937.30. Silver is +0.29 to 13.415, and copper +3.85 to 169.20.

The dollar index is -0.810 to 88.3900.

On the Radar


08:30 Change in Nonfarm Payrolls -615k
08:30 Unemployment Rate 7.9%
08:30 Change in Manufacturing Payrolls -170k
08:30 Average Hourly Earnings (MoM & YoY) 0.3%
08:30 Average Weekly Hours 33.3
03:00 Consumer Credit

Happy Friday! Good luck and have a great weekend.

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No positions in stocks mentioned.

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