A Brutal BLSBS

Well, how is the "data-dependant" Fed going to spin this one?

Wow, that was one lousy BLSBS. We can start with the "disappointing" headline number of +161,000 "jobs". That alone stinks is certainly not enough "job growth" to warrant a FF rate hike next month. But then you dig into the data and it gets even worse...

  • An increase of 425,000 people "not in the labor force", bringing the total to 94,600,000
  • Rising wages only due to rising healthcare costs
  • The Household Survey showed a LOSS of 43,000 jobs
  • The Labor Force Participation Rate fell to just 62.8%
  • Total manufacturing jobs fell by 9,000

And you might recall these ZH charts from last month. Well here they are updated for October. Not only is ALL of the job growth in PART-TIME jobs, people are having to work MULTIPLE jobs just to make ends meet.

And yet, the "Unemployment Rate" fell 4.9% so you can be assured that not only will Obama/Clinton be out over the weekend to tout how "strong" the US economy is, random Fed Goons will also pronounce things "robust" as the US "nears full employment". What a massive, greasy, stinky pile of garbage. Lies. All lies.

Seeing through the bullshit this morning is paper gold, which is currently UP $2 as I type at $1305. If anything, it's nice that gold isn't being driven lower ahead of next week so, if we can just hold these gains through the day and finish the week near these levels, I'll be reasonably happy.

Again, if you want something to watch as we go through the day, keep your eye on the 50-day moving averages in both metals. For the Dec16 gold, this number is almost exactly $1300. In the Dec16 silver, it's $18.53.

And keep an eye on the stock market today. Not only is it down 8 days in a row, it will be very interesting to see how it "trades" into the close and ahead of the weekend and next week. It's also sitting right at its own 200-day moving average, as you can see below. A weekly close below there will set off all sorts of alarm bells and negative headlines as we head into next week, too.

Lastly, here's today's Eric Sprott audio: https://soundcloud.com/sprottmoney/sprott-money-news-weekly-wrap-up-11416

Have a great day and try to be of good cheer. I'm going to be out most of the day and I will TRY to get you a podcast but I'm not certain that my schedule will allow it. If anything, I'll type up something after the markets close and give you some CoT analysis that way, instead.

Keep the faith,

TF

71 Comments

Libero's picture

numero uno

now to read

okay silver:  it's  a tie

silver66's picture

first --- in my own mind

OMG missed it by this much two days in a row.....lol

silver66

08Gold-Wing's picture

????

where the hell is everybody?   Number 1

Edit: ya thats what i thought,,,, too slow

billhilly's picture

4

damnit Marchas....where were you when I needed you ?

Now I'm gonna feel like a low down lilly livered slimy dog sumbuck ALL weekend long.

indiana rod's picture

Jobs Report

But---------but-----but Yahoo Finance said it was good for their girl.

16 jobs or 6 million, it's bad for precious metals and good for Hillary.

Aren't you glad we have a free and unbiased press?

Joseph Warren's picture

Rate Hike is a Certainty

in Bizarro World.

Lugnut's picture

Steve Liesman was closest

On CNBC this morning Steve Liesman came up with an estimate of 163,000 before the number was released. Actually has a model he uses to predict. He must be getting realistic nowadays after dealing with all of this BS. We can only hope.

BillD's picture

Erik keyed into all the facts

http://www.breitbart.com/radio/2016/11/04/erik-prince-nypd-ready-make-arrests-weiner-case/

“I wish they’d do it today,” he said. “These are the unusual sliding-door moments of history, that people can stand up and be counted, and make a real difference, and to save a Republic, save a Constitution that we actually need and love, that our forefathers fought and died for. For any cop that is aware of this level of wrongdoing, and they have veterans in their family, or deceased veterans in their family, they owe it to them to stand up, to stand and be counted today, and shine the light of truth on this great evil.”

matt_'s picture

Wow, here is a different take on the BLSBS

From Yahoo news:

The October jobs report was perfect for Hillary Clinton

The October jobs report was fine at first glance and solid upon close inspection.  And that’s great news for Hillary Clinton...

https://finance.yahoo.com/news/the-october-jobs-report-was-perfect-for-hillary-clinton-125314060.html

You say toMayto I say toMAHto.  You say  "solid" I say "lousy".

RickshawETF's picture

Election Play

Top Ten -- barely!

I sold off some "fine wine" to raise cash for my property taxes due next month, so I had a few thou just sitting idly by.  Thought I'd play a little election action, just for chuckles.  I bought some NUGT Dec 2 2016 $16 Calls this morning.  If Trump just happens to score a "surprise" victory, I could see gold taking off by $100, at least temporarily.  If that happens, my options could be worth a bit, and cashed out, with any gains converted into phyzz.  If Hillary "wins", there could be civil insurrection, and gold could also soar.  Worst case, gold is a yawner, and I cash out for a small loss . . .

Just sayin'

J Siefert's picture

Interesting talk about the Holocaust

viking-analytics.com's picture

BLSBS

My thought was that the BLSBS would come in in a way that would enable the stock market to rally and support Hillary.

Aligning myself with the plunge protection team today

billhilly's picture

WAY...

...off topic but here goes...

I went to the breitbart article posted above and was reading a reasonable article when all of a sudden the video started playing.  This happens at SO many site's now and it is incredibly frustrating.  I immediately got off the site and could not complete the article.  Not only does it make it difficult to read (having a playing video going...AND having those moving ad's on the sidebar) but it also takes up quite the amount of download amount I am allowed per month.

I don't understand why WE are not allowed to simply hit the play button at our own discretion. 

Every choice we are denied adds to our own slavery.  I now automatically close a site which plays video's without my choosing. 

Rant complete....now back to your regular programming.

addendum...maybe it is me who is doing something wrong...like a setting on my computer which auto plays video's...anybody have thoughts ??

Turd Ferguson's picture

Anyone else see something peculiar here?

MODERATOR

Perfectly natural to consistently bounce from the exact same number...

RickshawETF's picture

Re: Way

billhilly--

I'm with you 100%.  As soon as autoplay starts, it's kill the window.

If 'ol Turd starts pulling that shit here, he'll get the same treatment . . .

Just sayin'

DPMS308's picture

@billhilly add-on Noscript

Firefox add-on Noscript will reduce your frustration maybe.  With Noscript, you have to constantly allow things to launch.  You can choose allow temporarily or permanently to whitelist.

AvgAmerican's picture

Right on cue...MSM lovefest

Obama love-machine in action today. Everything is coming up roses! With enough BS seems you can grow anything in a cesspool.

http://www.marketwatch.com/story/jobs-growth-is-just-one-way-obamas-presidency-looks-good-2016-11-04

murphy's picture

Off topic sorry TF

but too good not to post. Where there's smoke there is fire. There's more in Weiner's lap(top) then HC's political emails. The media plays it like it's just a little sexting. More like a lot of pedophilia likely. Lot's of links to back up theory below.

https://m.reddit.com/r/The_Donald/comments/5aupnh/breaking_i_believe_i_have_connected_a_convicted/

For those interested, go back to the late 1980's and check out The Franklin Scandal. A connected republican owner of a failed savings and loan. ( He happened to give the opening speech for the RNC for Reagan in 1980). Get's indicted for running a pedophile ring. He was connected to the Franklin Nebraska chief of police, the governor and of course the FBI covered up as much as they could.

http://www.wanttoknow.info/mk/liftingtheveil#12

From Washington, D. C...

background-image4.png

Very long but gets into the Franklin Scandal as well:

https://archive.fo/ge7Ip

Dr Jerome's picture

autoplay

I disabled Adobe Flash. Now the computer asks me if i want to watch the video. My auto play troubles are over. But I do have to click "allow Now' if I want to watch something. Youtube is not affected.

Off topic, All the pics of Mr Weiner this week brought this classic meme to mind

JMS's picture

An idea (out-of-the-box)

What if everyone on this site (thousands of us?) were to visualize* today at noon (New York time) the corrupt and illegal market manipulators eating lunch, and upon their return to their offices, being arrested and taken to jail for their corrupt practices?

Just an impulsive idea.

*Thoughts can be powerful, studies show.

Turd Ferguson's picture

Keep watching copper

MODERATOR

UP another penny today to $2.26. Can it hold and confirm the breakout that finally happened yesterday?

Ozymandias's picture

I've done what I can do

and I just can't think about it anymore. I am at total overload and I'm going to think about anything but the election and manipulated markets today. I'm not much of a drinker but today might be an exception.

Keep Stacking!

heathbr's picture

JPY bouncing off

the 50 dma, me thinks

JQuest's picture

Jim Rickards: Ron Paul Interview - The Road To Ruin

11-2-2016

batting500's picture

@JMS's "An Idea" Mind Power/Brain Power

I agree with your impulsive idea wholeheartedly.  It reminds me of a late night radio show called Coast-to-Coast AM with Art Bell from about ten years ago (probably more).  He did a handful of these visualizations using his audience.  Generally regarding weather type things, rain for drought stricken areas and such.  After one such experiment a drought area was flooded badly (like a month later, not over night mind you) - he announced he would do no more such experiments.  

But I am on board, I have thrown out my thoughts to the aether.

Good Luck All...

The confounding-astounding,

batting500

Redley78's picture

re: Autoplay

If you are using Google Chrome, right click on the tab and hit the "mute tab" option. Then when something starts playing it wont bother you. 

Compwiz4u's picture

Re: AutoPlay & Flash Player

I recommend that you turn off Flash Player in your add-ons & select ask to activate.

Not only will these videos not play automatically but all the other Flash crap likes ads, etc. which slow down your web page loadings (most times you can't see them as they are further down the pages) will not run unless you explicitly click on Allow at the top of the pages.

FYI, Chrome does not support Flash anymore & most browsers plan to stop supporting Flash in the future as it is a source for malware.

Dr. P. Metals's picture

miners rolling over

as usual.

billhilly's picture

a little levity...

The Power of Money and BS

SO I TOLD MY SON, "YOU WILL MARRY THE GIRL I CHOOSE.".......HE SAID, "NO."

I TOLD HIM, "SHE IS BILL GATES DAUGHTER.".......HE SAID, "OK"

I CALLED BILL GATES AND SAID, "I WANT YOUR DAUGHTER TO MARRY MY SON,"..... BILL GATES SAID, "NO WAY"

I TOLD BILL, "MY SON IS THE C.E.O. OF WORLD BANK."......BILL GATES SAID, "OK"

I CALLED THE PRESIDENT OF WORLD BANK AND ASKED HIM TO MAKE MY SON THE C.E.O.......HE SAID, "LIKE HELL I WILL"

I TOLD HIM, "MY SON IS BILL GATES SON-IN-LAW".......HE SAID, "IN THAT CASE, OK"

AND THAT MY FRIENDS......IS EXACTLY   HOW OUR POLITICAL SYSTEMS WORKS!

(All the rest is just smoke & mirrors)

SteveW's picture

Autoplay

Dr J. I also have Adobe Flash disabled. The mild inconvenience of having to give it permission overcomes those annoying autoplay embedded videos.

Similarly, I have some kind of ad block and when reading zerohedge I have to scroll though many blocks of white space.

On a PM note I was away for a week until this past Tuesday to celebrate my birthday. Las Vegas, and Laughlin on the weekend. At the Acquarius I found the Laughlin Coin, Currency and Jewelry show. I bought a 1928 Peace dollar, from a junk box, for $19. Seems somewhat overpriced, but they are not readily available in Canada and cost more. I don't know grading but it shows only modest wear. It was a birthday present from my wife who still doesn't understand why I collect silver.

I also got 0.073 gm of gold from Goldmoney, which reveals my age. Its a nice touch they have.

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