Will the stock market crash today?

The July employment numbers for new job creation came in and they are FAR below the 240,000 that economists had predicted. Only 32,000 jobs were created in July.

The Dow lost 163 points on Thursday and was down 85 points in the first few minurtes of trading.

Will today be one of those market crash days with the Dow losing close to 500 points?

I doubt it. The bad numbers on jobs raise some doubt that the Fed will raise rates at its next meeting. That should be enough to hold off a meltdown in the markets.

I’m more intersted to see the way the Bush campaign will spin this news.

Today’s results:

You don’t know how much this is killing me. I had two margin calls in two days on my Ameritrade account and by law they have to ban me from buying and selling on margin for 90 days. I’m missing out on some easy decision short sales. Its been so predictable all week; a daytraders dream. Next week I’ll have an account with another internet broker and hopefully things will still be this predictable (in the reverse direction).

They’ll blame it on Clinton, of course.