Stock market : Don't be fooled twice!

Today the Government of President Bush reported the Jobs Report at 5:30am PST and it was worse than expected, as I heard it reported on CNBC. Panelists said it was worse than expected and it didn't look good going forward. But as they watched the Futures market, they didn't see a sell-off. The market then opened an hour later and it is up right now 150 points. My friends, don't believe the market. If you have made a profit, take advantage of the move up and sell into it. The market is headed lower. There is no escaping it. Don't try to outsmart the pro's.

Think about it for a moment. We have lost 1.2 Million jobs in 2008 so far. The Unemployment rate jumped today from 6.1% to 6.5%. What is it in the numbers you don't get? Bad news is bad news. So this market in my view will sell off later in the day. If I were to pick the precise timing of the sell-off I would guess just about when Obama speaks at 11:00am PST. Why then, you ask? Because the power folks who are threatened with regulation by an Obama Administration want to make a point that they don't approve. I say "Tough, you made this mess and we are going to clean it up! So go cry in your soup. You have no idea what the average American family is going through because of your shenanigans these past 8 years." That's what I would tell them if they would listen. But they don't and won't, will they? Will you listen?

UPDATE: 11:55am PST.
Barack Obama started his news conference at 11:50am with the Dow at 253, as soon as he started with his first sentence of welcoming the Dow started to drop. In those 5 minutes the Dow has dropped to 170. It will be interesting to see what develops by the end of his News Conference.

UPDATE: 12:00pm
Dow is at 117

UPDATE: 12:05pm
Dow is at 95