Rally targets for the broad averages, as well as for some key commodities (including crude), imply a broad move higher today to within inches of mid-January’s peaks. The supply up there may not prove to be immovable, but it is bound to test the irresistibility of stocks that have been trending relentlessly higher for the last five weeks. If Mr. Market is up to his usual tricks, we should see gap-up openings in many vehicles, putting the potential last gasp of the uptrend beyond the easy reach of most traders.
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Rick’s Picks is a daily trading newsletter and intraday advisory packed with detailed strategies, fresh ideas and plain old horse sense.
Rick Ackerman is the editor of Rick’s Picks and a partner in 
Bogus U.S. Jobs Data Trips Up Colorado
by Rick Ackerman on March 12, 2010 1:07 am GMT · 8 comments
The brazenly bogus unemployment data disseminated to the news media each month by the U.S. Bureau of Labor Statistics appears to have tripped up Colorado. Although the state had reported a loss of 89,375 non-farm jobs in 2009, the actual number appears to have been much larger — 106,300, according to the latest revision. Colorado attributes the discrepancy to the Bureau’s rosy estimates of the number of businesses that start and fail each year. Until the new numbers came out earlier this week, Colorado’s official line was that it had somehow been spared the worst of Great Recession’s effects on the labor market. Unofficially, however, the picture was never so bright. “I was surprised when they reported the numbers the first time,” Zoltan Mak, a freight-train conductor on furlough » Read the full article