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Re: Jobless Claims - Remember The Worst Blizzard In History?

Regarding the Jobless Claims Report that showed claims lower than expected this week, which some in the media are pointing to as a reason to rally this morning; remember that worst blizzard in history thing? Yeah, well, no matter how weakly it panned out for much of the Northeast, thanks to the perhaps panicked actions of critically important governors and mayors it still paralyzed people across the most congested region of this nation. In Boston and parts of Long Island it actually did snow a lot and kept people indoors, too. As a result, the phantom storm likely kept a good number of people from making it to report their loss of employment. And there's a good reason for the prior week's weakness as well, so I suggest looking to a different catalyst today if you want a real reason to buy stocks.

Jobless Claims came in at 278K for… Read More …