Chris Damas
Contrarian, newsletter provider, commodities, industrials

Long Trade Idea - Rentech Nitrogen Partners LP

We saw a big 200 point reversal in the Dow Jones Industrial Average (NYSEARCA:DIA) from down 147 after this morning's U.S. jobs report of 169,000 more on August payroll to 14,989 up 51 currently (2:15 pm). I was surprised the DJIA took it on the chin, as revisions erased 74,000 jobs from the original June and July reports, and the 169 handle was slightly lower than market expectations of 175,000 (range 150-234K). It should be noted that these U.S. Bureau of Labor Statistics job reports have a plus/minus 100,000 level of inaccuracy.

Lower jobs/economic growth helps the stock market as it takes the pressure off the Federal Reserve to remove stimulus by ending quantitative easing via bond purchases....

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