Employment Increases, VXX Runs
Calculated Risk points out that employment increased (ADP report: 91,000), yet ADP hasn't been useful. Even though we saw some market enthusiasm (possibly related to employment), I agree with Bill that the numbers don't look good enough to justify any rally (if that's why we saw one). Also, the numbers from other reports seem to indicate that employment isn't that strong.
Keep in mind, however, that the market rally may have been pertinent to other factors. To a certain extent, I dislike those who connect it to something immediately ad hoc.
But I had to do it so that I could be angry with myself.
Also, since QE has been mentioned more frequently, given the market uncertainty, I still remain negative about the prospect of QE3.
The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.
Posted-In: QE3 Unemployment VXXTopics General
