Sara Murray over at our competitor, Rupert Murdoch’s WSJ (ha! some competition), put up a piece today on the latest metro area unemployment rate data from the BLS (Bureau of Liar Statistics). Naturally, these numbers do not count the underemployed and those whom the BLS decided to not count as part of the labor force, i.e. discouraged workers. Add another 10% to those numbers and the picture of this depression would be all the more stark.
Has anyone ever considered the sheer insanity of dropping people from those counted as unemployed because they have found the situation so hopeless that they are too depressed to look for work. Why aren’t we questioning the gummit for presenting the data in a way that is so blatantly skewed toward under stating the harsh reality? Is it that we can’t handle the truth?
We may be skating on very thin ice here, but the weight of the evidence still supports a weak bull case for the near to intermediate term. So I’m adding buy picks on the chart pick list and adjusting trailing stops to account for the risk.
These reports are not investment advice. They are for informational purposes, for a broad audience of investment and trading professionals, and other experienced investors and traders. Chart pick performance changes week to week and past performance may not indicate future results, as you know. Trading involves risk, and these reports assume that you understand those risks and manage them according to your tolerance.