The unemployment report came out this morning.
A lot of job creation means there are a lot more job openings than there are people to fill them.
Now, you have to read between the lines a bit:
A big reason the unemployment rate is low is the “labor force participation rate” which is very low. That means a lot of people have taken themselves out of the job market.
This low participation rate is a big reason why unemployment has been reporting sub 4% levels, which is basically unprecedented.
But that same strong labor market means that the Fed needs to continue to be aggressive, which is surely going to dash bulls’ hopes of a Fed pivot.
Yesterday we went short the broad market, and that play is working out for us.
► For today’s FREE daily pick, I’m recommending you short DKNG.
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👉👉 Our total now comes to 29 winners since we started in mid-August! (just 18 losers in that same period, with small losses in each)
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The Daily Pick is Don’s daily alert service, where for just a few dollars a month, he gives you a pick every trading day, complete with triggers, stop loss and profit targets.
ABOUT DON’S DAILY BRIEF:
Every market day, Don Yocham scans thousands of potential stocks, whittling down the list to just a handful that could be setting up to make BIG moves.
The top idea from his daily scan ends up here.
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