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Well all of these stock market indexes reacting favorably to weaker than expected really

economic data that came out today or again as I said on my last podcast I don't think

it even matters what the data is good bad everybody knows that the Fed is on hold indefinitely

at 0% rates they're not even thinking about thinking about thinking about raising interest

rates Wall Street knows that and they're also thinking about launching I believe a new

round of QE you know the Fed balance sheet has kind of been on hold for a while sitting

around $7.4 trillion but I have a feeling it's about to take off to a whole new level

and I think that's really what is driving the stock market higher of course the weaker

than expected economic data that came out today was the employment situation report the

jobs numbers for the month of January we just got those out this morning and you know

I remember yesterday I think there are a lot of people that were kind of preparing for

a beat people were thinking that we were going to be surprised with a much stronger jobs

report so the fact that we came out pretty close to consensus I think is a disappointment

Wall Street was looking for 50,000 jobs to be created there was a very wide range I think

the lowest number was maybe minus 100,000 the upper end plus 400,000 nowhere near that

we came out at 49,000 jobs so almost bang on consensus the bad news however was in the

revisions last month we were told we lost 140,000 jobs and if that wasn't bad enough they

just revised that down to minus 227,000 jobs so when you combine the revisions with the

...