Friday, December 05, 2008

20081205 1453, XLF TLT

DOW 8,384.13 +7.89
NASDAQ 1,465.55 +19.99
SP500 849.16 +3.94

Job numbers were released and the U6 unemployment measure (those working part time who want to work full time) is 12%. This lack of full time work is an untold story in the mainstream media.

A positive close can set up a nice base for a Santa Claus rally over the next few weeks. This market is set up for a violent short squeeze.

XLF 12.25 +.38. Day range 11.56 - 12.34.
TLT 111.42 -.88. When this breaks down it will surprise many who have bought Treasury bonds thinking they are safe.

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