ADP is estimating 532,000 more job losses in May. Considering we've been consistently over 600,000 in weekly claims, absolutely. I'll take 545,000 as my number when the official digits are out Friday.
Meanwhile, Jim Cramer is officially calling this a bull market. The bears are wrong, BUY BUY BUY into great economic news like California's budget crisis eliminating the safety net for 1/7th of the US, and the next wave of foreclosures being powered by rising unemployment!
You do that. Dow 14,000 is just around the corner...
Right?
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