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!
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.