Market Update

The best Jobs number in six months hit the wires this morning as Non-farm payrolls were reported at 166,000 for the month of October, which was more than double market expectations. Stock prices started to the upside this morning on the robust report, but quickly turned lower due to continued woes in the subprime market as well as a downgrade in the shares of Merrill Lynch, which are helping Bond prices improve. Technically, we are right in between resistance and support, where prices have traded for the past two weeks. As a result, I will recommend to float cautiously.