The Market Welcomes the Jobs Number

 | Jun 07, 2013 | 10:41 AM EDT  | Comments
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Stock quotes in this article:

gild

,

ba

,

utx

,

hd

Right back to the generals. Right back to biotech -- Gilead (GILD), Celgene (CELG), Biogen Idec (BIIB) and Regeneron (REGN). Right back to aerospace, meaning Boeing (BA) and United Technologies (UTX). Right back to Home Depot (HD).

It's like nothing ever happened.

Rates?

Employment?

How about, jobs number in line, big bad event is over, and on to the next?

Look, it was a big number, but only if it varied from the consensus. There are tons of people who sold stocks ahead, and not many who bought.

So those who sold because they feared a big down day and those who were waiting for a price break now think that it's past, and they are in.

I think that Thursday may have been some sort of whoosh bottom where everyone who wanted to sell got their chance.

It looks like we've averted the worst case -- not bad, not bad at all. 

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