Bad = Good = Nonsense

NFP preview

“You know I'm bad, I'm bad, you know it,
And the whole world has to answer right now
Just to tell you once again who's bad”

- Michael Jackson, “Bad”

Wall Street is such a Mental Asylum. It’s the only place in the known Universe where “Bad” could be “Bad” or “Bad” could be “Good”. Such a simple concept that a 5-year-old could figure it out, yet here comes Wall Street and makes a right mess out of it. No wonder so many lose their minds playing this “Game”!

Nowhere is this portrayed better than in the reaction of the Equity Market to Jobs Data. Since we have Non-Farm Payrolls (NFP) coming up this Friday, it’s an opportune time to review the precedents.