Earnings Season Cometh
With another week upon us it's time to watch one of Wall Street's favorite dramas unfold. Yes, it's the March edition of Earnings Season and it is the time for all my brokers and traders to stand up and take a bow...then quickly sit back down and start making that cash.
This week traders will be pointing to Friday's job's number as the economy sparking catalyst so be ready for the "whisper numbers" and prognostication of all sorts. Which reminds me...
This morning we got: Personal Income, Personal Spending and China's Industrial Profits. Tuesday brings Case Shiller and Consumer Confidence. Wednesday is the mortgage index and the Euro-Zone Business Climate. Thursday and Friday add a slew of company earnings reports and the grand daddy of them all, the 800lb gorilla in the American household... the job numbers round out the week of fun, excitement and positions gone to heaven and hell.
So now's the time for you monkeys to speculate and reminisce. (if you've got the requisite miles on the engine) What's going to happen? What's going up and what's coming down? How will the job numbers look? Most importantly, which one of you is going to pull a Frank Slaughtery and throw his hands up victoriously while the whole floor groans in defeat?
Let's have a great week out there and take some scalps home for the weekend.
I love that movie...
What are exactly the implications of the unemployment number? Particularly interested in what a trader should conclude from it. edit: I've seen the scene of course, I mean something in a serious, scientific manner.
I'd also appreciate it if someone provided some insight as to how this works in real life. How much is a trader allowed to place on an idea, if they are running a $100 mill book, and is that a reasonable book size for a junior, senior trader? Obviosuly this is a movie. but what I'm getting at is if this scene has any basis in reality. I'd love to spend a day on a trading floor, so I could know what its really like. and not have to ask dumb questions. I wish I hade done an internship in S & T in undergrad, oh well maybe after I do an MBA.
Do you trade your own account? That'd probably be a good first step.
Midas,
Are you implying that the market has any sort of correlation right now with economic data points?
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