Friday, June 1, 2012

Jobs Report Update

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WOW! Only 69,000 jobs for May!

The U.S. added just 69,000 jobs in May, the smallest increase in a year, the government reported Friday. Economists surveyed by MarketWatch expected a 165,000 increase. The unemployment rate, meanwhile, rose to 8.2% from 8.1%, mainly because more people entered the labor force even as hiring slowed

Bureau of Labor Statistics LINK

WTI crude oil is trading near $82, ITZ added a 1/4 position yesterday ahead of the Jobs ...and is suggesting adding this morning to the Proshares UCO position. ITZ had been targeting $28, as this is being typed it is trading at $27 in pre-hours trading.

UCO entry points --1/4 positions each entry-- May 9 $36.70, May 23 $32.00, 5/31 $29.25 and today ...most likely around $27.00. Average cost basis should be about $31.

1 comment:

itzstockchartz said...

Added remaining 1/2 position UCO @ $27.40