Thursday, November 02, 2006

Hold onto your hats; we are heading under 12000

Nonfarm productivity was reported as 0.0%. Unit labor costs continue to rise quickly at a 3.8% pace (although this also means that households are enjoying significant income gains). Jobless data was fairly steady.

I am sticking with my DOW.TOUCH.11600.JAN2007 call from last month.

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