Friday, April 5, 2013

Bad Nonfarm Payrolls

This just reinforces the Fed QE forever program.  It is a net positive for stocks.  Of course we will dip on the news, but this a flushing out of weak hands as we chop chop higher.  Unless you get Europe falling apart, you will not see a weaker S&P.  The S&P by itself will not go down, it will need external catalysts to take it down.  Perhaps they can bring up another European scare story to spook the longs, but that story has been played out so many times, it might not get much of a reaction.  Short of North Korea dropping bombs, I don't see this thing going lower than 1530.  A golden dip buying opportunity AGAIN. 

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