Tell your boss to listen to the talk below, dun anyhow short, wait kena shot, "chow tar" or "or bak kat"

Listen to Larry talk on gold, DOW n China mkt:

Dow Gives Monthly Buy Signal ...


by Larry Edelson

 

In this week's video, I review the important monthly buy signal the Dow just hit last Friday, plus what's happening in gold, oil, the dollar, and more.

To check out the video, click here now.

Best,

Larry

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handon      ( Date: 06-Aug-2009 23:57) Posted: my boss said the bull is  definitely tired liao... can only short.... but must aim properly.... hehe...

By Bob Willis

Aug. 6 (Bloomberg) -- The number of Americans filing claims for jobless benefits fell more than economists predicted, a sign some employers have stopped paring staff as the recession eases.

Applications dropped by 38,000 to 550,000 in the week ended Aug. 1, figures from the Labor Department showed today in Washington, the fifth straight time claims were under 600,000 after being above that level since January. The total number of people collecting unemployment insurance rose.

The pace of job cuts isn’t slowing fast enough to keep unemployment from rising. A report tomorrow will show the jobless rate jumped to the highest in 26 years in July, economists surveyed by Bloomberg News predict. Stagnating wages and falling home values also mean consumer spending, about 70 percent of the economy, will be slow to recover.

“These numbers signal the worst is behind us, but we are not out of the woods yet,” said David Semmens, an economist at Standard Chartered Bank in New York. “We are not going to see strong consumer spending with numbers that look like this.”

Economists forecast claims would drop to 580,000 from a previously estimated 584,000, according to the median of 40 projections in a Bloomberg News survey. Estimates ranged from 550,000 to 600,000.

The four-week moving average, a less-volatile measure than weekly initial claims, fell to 555,250 from 560,000 the prior week.

Continuing Claims

The level of continuing claims increased by 69,000 to 6.31 million in the week ended July 25.

The unemployment rate among people eligible for benefits, which tends to track the jobless rate, held at 4.7 percent in the week ended July 25. Eight states and territories reported an increase in new claims, while 45 reported a decrease. These data are also reported with a one-week lag.

U.S. employers have eliminated 6.5 million positions since the recession began in December 2007, the most of any downturn since the Great Depression.

The Labor Department will probably report tomorrow that the economy lost 328,000 jobs in July, according to economists surveyed by Bloomberg, following a decline of 467,000 in June. The jobless rate probably rose to 9.6 percent from 9.5 percent, the survey showed.

Tide ‘Turning’

“The pace of job declines that we experienced in the last several months certainly was unsustainable and it looks like now the tide is turning,” said Carl Riccadonna, a senior economist at Deutsche Bank Securities Inc. in New York. He called 600,000 weekly jobless claims “a key level in the current environment” because they were higher for more than five months until early July.

Many companies continue to cut jobs and hours even as economists forecast a return to growth in the current quarter.

General Motors Co. may have to cut more U.S. hourly jobs after an offer of buyouts and early retirements fell about 7,500 workers short of the reorganized automaker’s target, Sherrie Childers Arb, a spokeswoman, said in an interview on Aug. 3.

She made the remarks after GM announced that more than 6,000 United Auto Workers members, or 11 percent of the hourly workforce, left the company Aug. 1.

GM’s latest voluntary exits pushed the total of U.S. hourly workers leaving through buyouts and retirement offers to about 66,000 since 2006. The biggest domestic automaker is shrinking its workforce to match reductions including the shutdown of 14 U.S. plants and 3 warehouses by the end of 2011.

Auto Bankruptcies

Jobless claims tend to be volatile in late June and July when automakers typically halt production and idle workers to re-equip factories to build new models. GM and Chrysler Group LLC halted production earlier than usual as they worked through bankruptcy proceedings.

GM emerged from bankruptcy last month and Chrysler did the same in June.

Buckeye Partners LP, the Breinigsville, Pennsylvania-based operator of U.S. oil- and gas-product pipelines, said July 20 that it will eliminate about 260 jobs, or 25 percent of its workforce, because of the “current economic environment” and may sell a conduit in the U.S. West.

“We must continuously challenge ourselves, particularly in the current economic environment, to ensure that we are positioned to generate the highest utilization of our assets at the lowest cost,” Forrest E. Wylie, chief executive officer of Buckeye’s general partner, said in a statement on July 20.

To contact the reporter on this story: Bob Willis in Washington bwillis@bloomberg.net

Cheongwee,

Listen to Larry talk on gold, DOW n China mkt:

Dow Gives Monthly Buy Signal ...


by Larry Edelson

 

In this week's video, I review the important monthly buy signal the Dow just hit last Friday, plus what's happening in gold, oil, the dollar, and more.

To check out the video, click here now.

Best,

Larry

cheongwee      ( Date: 06-Aug-2009 22:36) Posted: no...short gold...cover back in late summer.. handon      ( Date: 06-Aug-2009 22:06) Posted: my boss cover short for gold... hehe..

For the time being, i do not see dua lao sai a possibility.

The sentiments of the Americans have settled down already.

People are viewing more positive now. 3rd qtr results will be the trigger point for major downside if we can't see further upside. (Just my point of view)

no...short gold...cover back in late summer..

handon      ( Date: 06-Aug-2009 22:06) Posted: my boss cover short for gold... hehe..