Thursday, January 7, 2010
First Reaction to NFP
Recent articles, CNBC, and other financial media seem to be converging on the same theme. A positive jobs report. Consensus expectations have gone up as the market averages have gone up. Thus, consensus will be tougher to beat. Now I still expect overnight strength leading up to the report. But it seems more likely now that the first reaction to the report will be to sell it.
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3 comments:
Will the up last until the bell or selling only in the futures?
I think we'll have a sell the news reaction right at 8:30 AM. I am less sure about what happens from 8:40 AM onwards.
Thanks. Meant down of course.
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