NFP Prints At 117K, Beats Expectations Of 85K, Unemployment Rate Down To 9.1%

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Fri, 08/05/2011 - 08:30 | 1526248 FoieGras
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Rally back to 1240/1250 next week.

Fri, 08/05/2011 - 08:39 | 1526282 HelluvaEngineer
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Looks like futures are already fading the move.  Will need to be very careful today.

Fri, 08/05/2011 - 08:56 | 1526365 Cdad
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The Euro seems to have topped already against the dollar.  Dollar strength ahead, I suspect.

"Source of funds" trade probably continues...sell the winners and cover shorts on beaten down things.

Europe is still a short today.

Fri, 08/05/2011 - 09:06 | 1526412 SheepDog-One
SheepDog-One's picture

Bernank trying to figure out how he can have fear and panic, but not so much as to cause the rest of the 401K brigades to sell...quite a tightrope across the Grand Canyon act.

Fri, 08/05/2011 - 09:16 | 1526448 Cdad
Cdad's picture

Indeed, Dog.  And where the Fed is involved, only failure follows.

It seems to me that the bathrobe brigade is not actually fooled by this Wall Street nonsense...not as much as they used to be.  Redemptions at cashless mutual funds to continue...

[lulz..."Fire at Valero Refinery" story IMMEDIATELY announced as "under control."  Ah, the central planners.  Where is my bottle of blue pills?]

Fri, 08/05/2011 - 10:12 | 1526650 Thorlyx
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They must have counted every blowjobs and handjobs to get that number.

Fri, 08/05/2011 - 09:11 | 1526449 malikai
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<-- QE3 > $1T

<-- QE3 < $1T

I'm thinking big. Because these are big moves these days. But I'm not so sure.

Fri, 08/05/2011 - 09:44 | 1526554 Hard1
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The Bernank called the BLS yesterday and instructed a statistical quantitative easing.

Fri, 08/05/2011 - 09:34 | 1526528 FoieGras
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Not talking about today. I just think we get a bear market bounce of 3-4% that should leave us at 1250 (prior support). Then the market could have lured in enough fools to turn arounda and drop sub 1100 for good.

Fri, 08/05/2011 - 08:28 | 1526251 Atlas_shrugging
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the pres would speak after a major miss?  please

Fri, 08/05/2011 - 08:31 | 1526252 mmlevine
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Can I call bullshit?

Fri, 08/05/2011 - 08:38 | 1526280 jus_lite_reading
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YES!! I smelled it from a mile away... they had to juice the numbers today to "save" the markets but it will be revised down by 100k next month... its all BS and now more people are beginning to see this... game over folks... their gig is up



Fri, 08/05/2011 - 08:51 | 1526351 r101958
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Agreed. There seems to be an effort, especially after the revision of Q1 GDP to a lower number than Q2 GDP, to sell the story that Q1 was the 'soft patch' and that the economy is on the upswing again and now they have another $2+ trillion to throw around. What a farce. However, the market doesn't buy the headlines anymore and is looking behind those numbers at all the fudging.

Fri, 08/05/2011 - 09:02 | 1526381 ColonelCooper
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Yet futures have gone vertical since the headline was released.  I'd say the market will buy a smoldering bag of dogshit as long as it's labeled "rose petals"

Fri, 08/05/2011 - 09:11 | 1526433 jus_lite_reading
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Lesson one. THE "NEWS" is for the retail suckers. THEY buy the news while the "smart money" aka the frauds SELL... thats how it is done...

stock investing is long dead... you can trade but be careful you might never get your money out when the SHTF...

Fri, 08/05/2011 - 08:42 | 1526297 Ruffcut
Ruffcut's picture

"yes, you can"

Investors love the bullshit, just like a fat, ugly woman likes to hear that she is sexy and pretty.

Fri, 08/05/2011 - 08:57 | 1526320 jus_lite_reading
jus_lite_reading's picture







Do I see a trend here?

Just saying... don't look to deep into it


Fri, 08/05/2011 - 10:03 | 1526617 InconvenientCou...
InconvenientCounterParty's picture

Homo sapien is a strain of virus that feeds on itself and values ideas more than their own biological success.

The trend is simply population boom and bust.

you were expecting Jooooooos Bitchezzzz? sorry.


Fri, 08/05/2011 - 10:05 | 1526628 jus_lite_reading
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HUMAN is a disease on earth... just saying

Fri, 08/05/2011 - 10:04 | 1526620 jus_lite_reading
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These are the names of at least 5 Wall Street crooks. Either they are as dumb as shit toast on a hot day or they are your typical Wall Street frauds who get paid to spin the news so they can sell worthless paper. Pick one. Either way I thank TD for pointing them out. I know another hundred or so just like them over my years and I have to say many of them are there.... that is why in part everything is so FUBURed... THEY HAVE TO GO. Wall STREET needs a colon cleansing right now!!! flush out the SHIT

Fri, 08/05/2011 - 08:51 | 1526336 mtomato2
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"The data suggests the economy, while far from strong, is going to see some improvement from the weak pace seen in the first half of the year."




Good GOD!

Fri, 08/05/2011 - 09:21 | 1526485 SMG
SMG's picture

Why even report this stuff?   It's really nothing more than propaganda to keep the people from revolting.  I think it would be better for ZH to report the John Williams shadow stats number.   His number counts it the same way as during the depression in the 30s, simply the number of people not working. 

The current real truthful unemployment rate is 22.7%.


Fri, 08/05/2011 - 09:54 | 1526585 Founders Keeper
Founders Keeper's picture

[Why even report this stuff?   It's really nothing more than propaganda to keep the people from revolting.]---SMG

Hi SMG.  I agree, of course, it's propaganda.

However, I need to know the propaganda the state is dispensing.  I measure the propaganda against reality.  The greater the gap, the harder the fall.


Fri, 08/05/2011 - 09:33 | 1526534 Bay Area Guy
Bay Area Guy's picture

Not only can you call bullshit, I encourage you to do so.  Now, I don't really care that TPTB are manufacturing numbers (since we, as a nation don't seem to manufacture anything else), but what is very worrisome to me is that I think they, themselves, BELIEVE those numbers and are developing economic policies based on the lies.  It's one thing to claim the unemployment rate is 9.1% when it's actually 16+%, but it's a whole other thing to base your policies on 9.1%.  It's insanity of the first degree.  If we, as a nation, and policy makers in particular, can't face up to the real situation we're in; if we have to sugarcoat the numbers to make people feel better and then believe in the fantasy, then we're surely going to run headlong into a brick wall.

Fri, 08/05/2011 - 10:08 | 1526636 jus_lite_reading
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'developing economic policy on lies' .

Isn't that what got Greece in the SHIT load of trouble?


THE US is doomed because everything was built upon lies and more lies to cover over those lies... ironic that Bernie Madeoff was made a vilan when he was simply a copycat of the global economy!!

Fri, 08/05/2011 - 08:31 | 1526253 mikeyv1970
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Me doth think this was not good enough.  Especially with planned layoffs increasing...

Fri, 08/05/2011 - 08:51 | 1526340 WmMcK
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Doth we protest too much?

Fri, 08/05/2011 - 08:31 | 1526254 malikai
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Revised down to 80k next week.

Fri, 08/05/2011 - 08:31 | 1526255 Shocker
Shocker's picture

we did it... Yaaaa. Not at all, theses numbers still are not great. The most important part 190,000+ dropped out of the labor market, WOW

We have some serious problems with the economy, that no one is talking about

Fri, 08/05/2011 - 09:15 | 1526437 Bob
Bob's picture

Yeah, but that's what used to be called the "real" economy.  Now the tail wags the dog, then eats him for dinner. 

No problem.  A dog's just a dog. There's plenty more where he came from. 

But have you seen The Market!  Prosperity just can't be denied. 

Mr. Market knows all.   

Which is why, of course, we now look at how job reports hurt the markets to determine if they matter or not. 

Fri, 08/05/2011 - 08:31 | 1526256 machineh
machineh's picture

Summer Jobfest in the Workers Paradise -- enjoy!

Fri, 08/05/2011 - 08:32 | 1526257 docj
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So, does "massively oversold market" + NFP "beat" == "melt-your face off rally" on Fraud Street today?

Or does NFP "beat" + "no more QE for you" == risk-off?

We'll know soon enough.

Fri, 08/05/2011 - 08:40 | 1526283 mayhem_korner
mayhem_korner's picture

Half-life: 90 minutes.

Squid traders score on "unleaked" leveraged SPX calls early, then go home to party while reality of Spangliatti bank situation pushes indexes down 2% or more by the closing bell.

Fri, 08/05/2011 - 08:51 | 1526334 GeneMarchbanks
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After Fuckin' Wingnut finishes reading the RED will reappear.

Fri, 08/05/2011 - 09:02 | 1526382 mayhem_korner
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"reading"  LOL

Fri, 08/05/2011 - 08:54 | 1526358 docj
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Looks like they're already starting to walk-back the "JOY!" in this report - check the updates from Bloomies.

Fri, 08/05/2011 - 10:03 | 1526618 mayhem_korner
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You should see the jokers at CNBC gushing over the good news...

Wonder what they'll be retracting once things go red.

Fri, 08/05/2011 - 09:17 | 1526456 Gohn Galt
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I can post??  I wasn't able to read or post yesterday.  The Obama Birthday Trade. I wanted to share in the excitement.  I think that paid for another self sustainable permafarming unit and a couple of more families that won't have to depend on the government.

And docj, I think you are right, but I don't like calling the market.  I do better going with the flow or inconsistances, go in take money, get out.  Like the ocean.  Is there any other way to play this market?  (I know accumulate physical PM, way ahead you even with the silver, it makes great solder)



Fri, 08/05/2011 - 09:24 | 1526488 docj
docj's picture

No worries, GG. I don't "play" in this market - I'm a mere observer.

Frankly, I think anyone "playing" in this casino is likely to get precisely what they deserve. I have a great deal of sympathy for anyone who has to make rent in this mess, but doing anything with this as a hobby is pure insanity.

Fri, 08/05/2011 - 08:32 | 1526258 Catullus
Catullus's picture

This should help the bank run in Europe. HA HA

Fri, 08/05/2011 - 08:32 | 1526261 the not so migh...
the not so mighty maximiza's picture

its a miracle!!!!!!!!!!!

Fri, 08/05/2011 - 08:44 | 1526314 the not so migh...
the not so mighty maximiza's picture

i can see and walk again, praise the lord

Fri, 08/05/2011 - 08:53 | 1526355 mtomato2
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"What SAY there, Fuzzy Britches!!  Feel like talkin'!?!"

Fri, 08/05/2011 - 09:10 | 1526431 Broomer
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Mein Führer! I can walk!


Fri, 08/05/2011 - 08:39 | 1526262 r101958
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I will be the first to call 'bull schmidt'! Work force participation shrinks by 193k. So real number......about -80k.

....and that number does not even count the birth/death adjustment .....which seems to always add jobs.


Fri, 08/05/2011 - 08:43 | 1526306 jus_lite_reading
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If they ever printed the REAL number today in the middle of the market crash all hell would break loose (as it should) but instead they will give the fake happy number to prop things up again so we rally today on Fraud Street 500 points!! LMAO

My advice to everyone is GTFO of stocks and banks and buy gold.... simple really

Fri, 08/05/2011 - 08:59 | 1526375 r101958
r101958's picture

True, but because they live in their warped 'created perceptions' world, they neglect the fact that the market no longer buys the manipulated numbers they produce. That is the 'unintended consequence' of the 'tangled web they weave when once they practice to deceive'.

Fri, 08/05/2011 - 08:33 | 1526263 AngryGerman
AngryGerman's picture

all problems solved. happy happy joy joy.




Fri, 08/05/2011 - 08:34 | 1526264 the not so migh...
the not so mighty maximiza's picture

well no need for qe3 right??????

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