Friday, October 5, 2012

Reliability, Persistence and Consistency; NFP Number Disagreeable to All


It slices to the heart like a butcher's knife through a sheave of pork... or chicken, appropriate, for the occasional sarcastic remark, refrained from by those with more sense than the norm.

Today's post, Reliability, Persistence and Consistency, was supposed to have been written yesterday. So much for prescience and the timeliness of a message not delivered.

As the matter may be, the trio go together well. While consistency may or may not inspire a reliable nature, so too persistence can be the godfather of both. In the end, the verbiage required for an adequate discussion of the value of virtuousness is far too great to be expensed on a Friday afternoon. Better to leave things unsaid than say them wrongly, even as the wrongs of others may force the hand into parody, mirth or an occasional lilting melodrama.

As for the markets, so much nothing about nothing much. The greatly-anticipated non-farm payroll report for September left much to be desired on both the bullish and bearish sides of the equation. The actual number of 114,000 net job gain was so close to all official and unofficial estimates as to be nothing more than a hiccup, though traders made the best of it, sending stocks rocketing at the open and trading them down throughout the session and into the close.

A great deal has been and will be made of the unemployment rate flopping to 7.8%. It's pure rubbish, concocted from flimsy data with maximum massage President Oblahblah will feel a s rush of relief. Since FDR, no president has won re-election with an official unemployment rate over 8.0 percent. It's a winning number for a second term. What utter nonsense, because, if the truth be known, the comparison to FDR is apt, so the chances are good that Obama could be re-elected with an unemployment rate of 10 or 15 percent, such is the economic condition of the nation.

May decimal point profits and losses were made by those who find day-trading a pleasurable occupation. For the rest of us, it didn't really matter, much like Wednesday night's Presidential Debate, an over-flouted fiasco of sound that greatly interfered with the finale of the baseball season, which, notably, was without great tension and tumult, except, of course, for fans of the Oakland Athletics. Somewhere, everywhere, lovers of the little guy were crying tears of joy for smallball.

The weekend beckons. Be not afraid nor tired from the pressures of the week just commenced. It is past, and the future always holds promise. Take a break. Reflect. Enjoy life rather than cursing your lot. The weekend will last but a short time. In the grand pantheon of history, your life matters little as well. Don't even think about it. Monday will come sooner than most of us will like.

Dow 13,610.15, +34.79(0.26%)
NASDAQ 3,136.19, -13.27 (0.42%)
S&P 500 1,460.93, -0.47 (0.03%)
NYSE Composite 8,384.07, +7.73(0.09%)
NASDAQ Volume 1,611,767,130
NYSE Volume 3,177,711,250
Combined NYSE & NASDAQ Advance - Decline: 2837-2618
Combined NYSE & NASDAQ New highs - New lows: 468-40 (really)
WTI crude oil: 89.88, -1.83
Gold: 1,780.80, -15.70
Silver: 34.57, -0.529

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