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Two Sides of the Coin

On Thursday stocks sold off mightily because +2.8% GDP growth was too hot for some investors. They saw it as a clear sign that the QE taper would be served up soon and that would be bad for stocks.

However, on Friday the October Employment Situation was spectacular at over 200K jobs added plus 60K in positive revisions to the previous months. The initial reaction for stocks was negative just like Thursday. Yet as the day progressed more investors wised up and saw that the merit of this positive economic news greatly outweighs the bad.

You know where I stand. QE was a means to jump start a dead car. Its running fine on its own now and the jumper cables can be removed. And gladly, in the case of QE, it can be removed step by step to insure that the economy stays on the upward track instead of an all or nothing approach.

Stay bullish my friends.

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