The job numbers are real. I've posted in the past that I saw a strong 4th quarter coming and here it comes. Many here keep complaining that most of the jobs reported today were temp jobs. They're half right. The other half of the story is yes, many temp jobs but many of them are what we call "temp to perm". It works like this, a company has a fulltime need but wants to try the employee out for a while before converting them to fulltime perm. The temp works as a temp for 30-90 days. At the end of the 30 or 90days the company then hires the temp from the temp agency and pays the agency an additional fee.
As for this market, I'm mostly in the bullish camp because of positive seasonality. Money flows should start to pick up and overseas investors should come back into our market now that the election is over. The next big event is the election in Iraq so expect the media to spin this bigtime going forward. If I had big profits here I would start to case in some here. We need to see a pullback from here. I only negatives I see are way to many bulls, alot of insider selling and the potential for terror attacks now that Bush has won. I'm still not totally convinced that oil prices won't head back up.
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