Initial Jobless claims down significantly but not enough to save the markets

In a stunner yesterday the weekly initial jobless claims unexpectedly dropped by 27k vs. the previous week coming in at 365k vs. a consensus estimate of 378k.  After bad ADP and Challenger job reports this week people were likely holding there breath expecting another bad job number.



Today is the mecca of all jobs report with the BLS number coming out at 8:30AM.  This is sure to be the driver of the equity markets either gaping up or down from the opening bell.  It will be interesting to see how the markets handles the news throughout the day.

Sometimes it is better to be luck than good.  I had previously sold out of our Green Mountain Coffee Roaster $GMCR in the DWCM fund week ago and decided to exit out of my personal position in the stock late on Wednesday.  As you may have heard the stock finished down some 47% yesterday based upon it's earning miss and weaker than expected revenue. (see details here).  About $3 billion in market share was wiped out in one day.