Once more unto the breach…

Feverish buying in the face of an unemployment number suggests the following line of thinking:

The 5 month bear market is over, all dips are for buying, the dollar reversed again, Europe is getting its act together and the obligatory year-end rally is on.

To keep up with the programs, you have to switch sides in milli-second time or pay up more than 10% in some cases. If this is indeed a longer-lasting rally then there will be plenty of time.

And the jobs report is being interpreted as good news at least in the pre-market. Better than expectations,  so squeeze the shorts who must have piled on after a 3-day rally.  This does look like a good place to take profits if you have them.

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