Good morning, everyone. Moments ago (as I’m typing this, at least) the first monthly jobs report came out, and the numbers are as follows (the order being actual, forecast, and prior):
Briefly stated, the unemployment fell to 3.5% and more jobs were added than forecasts. However – – and this is what the market seems fixated on – – wage growth came in cooler than anticipated.
As such, equity futures went from red to green instantly, although thus far the market doesn’t seem quite what to do with this information. There was a huge spike, and everything is still green, but it’s not exactly merciless.
Green numbers aside, I don’t think the bulls necessarily have this day in the bag yet. We’ll see.
I will note, for the moment, that Tesla is getting deliciously close to my insane price target of “just under $100” (initially laid out in detail in this premium post). If it actually manages to meet that target and then strengthen, we can all declare me the Studliest Stud Who Ever Studded, but, again, we’ll see.
I am quite aggressively positioned now, and the jury is out as to whether I’ll have to trim the sails or not. Good luck, and remember, Bear Force One takes off just before the closing bell today!
