Return of Mass Layoffs a Grim Sign for U.S. Workers

Bears Chat at The Wall Street Examiner July 21, 2011 0 Comments

Return of Mass Layoffs a Grim Sign for U.S. Workers
By Aaron Task

Putting pressure on an already lousy job market, the mass layoff is making a comeback. In the past week, Cisco, Lockheed Martin and Borders announced a combined 23,000 in job cuts. (See: Another Retailer Bites the Dust: Borders Doomed by Amazon Deal, Davidowitz Says)

Fed Will Administer Volckera to Cure Inflation Pandemic, and We’ll All Die

Those announcements follow 41,432 in planned cuts in June, up 11.6% from May and 5.3% vs. a year earlier, according to Challenger, Gray & Christmas.

Meanwhile, state and local governments have cut 142,000 jobs this year, The WSJ reports, and Wall Street is braced for another round of cutbacks. This week, Goldman Sachs announced plans to let go 1000 fixed-income traders.

Pop Goes the Bubble

Our Chart Pick List Was Short Up the Wazoo, Woohoo! Now What?

If these trends continue, we may soon be talking about losses in the monthly employment data — not just disappointing growth, says Howard Davidowitz, CEO of Davidowitz & Associates

http://finance.yahoo.com/blogs/daily-ticker/return-mass-layoffs-grim-sign-u-workers-
190228219.html

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Our Chart Pick List Was Short Up the Wazoo, Woohoo! Now What?

The extra layer of screens that I instituted for swing trade chart picks last week, and a cooperative market, paid off in a big way. Woo hoo!

Pop Goes the Bubble

Cycle screening measures screamed higher in a pattern similar to October-November 2020. That led to a breakout and long upleg. It doesn’t guarantee the same outcome here, but we need to be cognizant, and prepared for the possibility.

Gold Positioned To Pop

Subscribers, click here to download the report. Gold There are signs of cycles getting in gear to the upside, but no sign of thrust yet.…

Getting Short Up the Wazoo

I concluded last week that the small number of signals, particularly buy signals suggested that the rally was exhausted, despite the buys having the edge. I chose not to add any charts to the list, long or short, but held on to all of the shorts that had been on the list.

That looks to have been the correct judgement.

This week, I’m adding 5 more shorts to the list.

Still Looking for that Rigor Mortis Rally

Cycle screening measures screamed higher in a pattern similar to October-November 2020. That led to a breakout and long upleg. It doesn’t guarantee the same outcome here, but we need to be cognizant, and prepared for the possibility.