Monday’s Trading

-300k Cometh

Bloomberg’s survey of economists shows that expectations for Friday’s jobs report is for 320,000 jobs lost in November.

If you look at the historical data, you will see that the worst report of the last recession was -330k in October of 2001. The stock market bottomed one full year later!

So, even if this is as bad as it gets, there is a good chance that we will see another year of bear-market action. And of course it can get worse. We topped -400k in May 1980.