I just wasted 15 minutes of my life watching CNBS coverage of "BREAKING NEWS with Hampton Pearson at the Labor Department".
What a fallacy and outright joke our financial "media" have become. You can't get a straight answer out of anybody. Nothing but CYA and assorted BS.
First of all, CNBS parades the same three douchebags in front of their cameras every time. That coug from Mesirow, the Keynesian shill from Moodys and the guy from some website I've never heard of who looks like an old, fat, balding, Wyatt Earp.
At 8:27, the Moodys guy says that the economy is "approaching escape velocity" where we are finally breaking free of the doldrums. Nice call, shill. Then, at 8:29:30, Wyatt Earp starts waxing prophetic about how he expects "+250,000 non-farm payrolls" and blah, blah, blah. Hampton Pearson then breaks in with +50,000 and a 9.8% unemployment rate. The looks across the penta-box were absolutely priceless. Funniest thing The Turd has seen on TV since The Simpsons Halloween special 6 weeks ago. CNBS regularly uploads recent clips to their website, so, give it an hour or so and go there and watch it for yourself. I guarantee you'll enjoy it. Jeez, what a bunch of boobs.
As for the all-important PMs, predictably they've taken off post BLS BS. The totally lame US economy guarantees a continuance of QE...to infinity. Gold, after reaching 1404 has pulled back to 1399. Silver made 29.09 and is now 28.95. No reason not to expect strength all day. Blythe will certainly bare her fangs as we approach 1412 and beyond, if not before. Silver will, most likely begin to test the old highs of 29.40 or so, too.
It should be a very fun day. I need to s&s&s. Much more later.