Surely humor like this (if not so much its accompanying forecasts on copper, China, the S&P, bonds, or anything else for that matter) is worth the $29.95 monthly subscription price alone. From today’s “world-renowned” Gartman newsletter.
… we recall that last month the ADP reported that the US “created” 220,000 new jobs in April. This month, those who try to forecast the ADP report have it at +210,000. We’ve far too many ways to embarrass ourselves to put forth a forecast on today’s ADP report, so we shall simply await its release, but if we have to argue even slightly with the consensus we shall argue that the consensus is low and that there shall be more jobs created than the 210K guess-timate that is the consensus at the moment. Help-wanted signs are appearing in store fronts at a pace we’ve not seen in a very long while. The nation’s ports are busy; auto sales are high and rising; houses are being bought; airplanes are packed gunwale-to-gunwale and the nation’s cab drivers are busy and talkative. +230 thousand would not surprise us at all.
So would 179K, or the second lowest print since June 2013, surprise us ? That said, add one more to the ways with which we can “embarrass ourselves.“
via Zero Hedge http://ift.tt/1oa5Nzs Tyler Durden