The Unemployment rate hits 10.2%, and the US stock market today

Apparently, the unemployment rate is still in a bad shape, but it is as expected. No surprise at all.

You know, the market always over reacts to something that are surprising ! If something is expected already, then no dramatic effects at all.

As a conclusion, I keep my last night's market view, S&P 500 will hit 1100 pretty soon.

I have anticipated the pulling back to 1020 level again after S&P hits 1029 last time, but yesterday I gave up. I still keep some cash and look forward to buying in at a big dip before the end of this year. But the chance seems pretty small now! Even though, I am still very happy since I think I have enough long positions to ride with this rally.

With regard to the long term market view, I have never changed my market views and predictions, posted here on September 12, 2009, to date. More reviews on these brave predictions will be posted later.