daytrade diaries... october 2, page-4

US Market will sell off even bigger tonight with US unemployment numbers....biggest rally in stockmarket history and barely a dent in the unemployment numbers which are still rising at a ridiculous rate...More than 20% of the USA will be unemployed, underemployed or white collars workers not registering for benefits by 2011.

You always double an unemployment rate to get the true picture or at least raise it by 50% for these segments.

Australias unemployment data is a crock of sh*t as it makes no allowance for these segments...we are easily in double digit...easily...officially it says 5.5%...just a controlled number that doesnt reflect modern reality and all the idiot economists buy it...In 12 years in markets i never met one smart economist...when their data is so fundamentally flawed..just propaganda...inflation, unemployment data can be whatever you want it...like NPV !!

Most sectors will sell off here hard all the way to Wednesday next week...financials, reits and airlines, commodities will take pain, natural gas stocks the worst.
I sold up yesterday for the long weekend. it was getting impossible to make money...sure sign of a toppy market.

Cash will be king until December.