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VIDEOTwo Ways To Play: Fewer Jobs, Lots of People To Do Them
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Topping this morning’s headlines, US payrolls fell by 524,000 for the month of December. Closing the books on 2008 (finally), this marks the biggest collapse in employment since the end of the Second World War.
According to Bloomberg, the unemployment rate rose to a 15-year high, from 6.8% in November to 7.2% in December. What's more, the average number of weekly hours worked declined to 33.3 from 33.5, signaling less income for America's hourly workers.
For the year, a total of 2.589 million jobs were lost - the most since 1945. 
From the Bull Pen: Minyans are wise not to chase any early morning strength. The S&P near 885 could represent a better buying opportunity. The vehicle of choice could be the Ultra Long S&P (SSO) for a short-term trade. 
From the Bear Cave: The data is gloomy, but the market still maintains a technical bullish setup. Bears can consider a play in Exxon Mobil (XOM). A buy stop can be set above $80.
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