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Morning Call: Jobs Report, Greek Debt Swap Deliver for Bulls

March 9th, 2012

US stock futures are higher Friday morning after Greece delivered on its crucial debt swap with private creditors. Participation was high enough to trigger collective action clauses, ironing out the final stumbling block before the debt-riddled country can receive its second bailout package.

Also, the US added 227,000 jobs in February, while December and January numbers were revised up by a combined 61,000 jobs. The unemployment rate stayed steady at 8.3%. The non-farm payrolls number came in higher than expected, and reinforces the idea that the US economy is gaining steam.

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Stocks fell sharply at the beginning of the week, but once again showed resilience in 2012 by erasing those gains in only two days. With today’s up open it will be interesting to see how far this snap back can take us. It would be natural to see some consolidation at these upper levels again before we potentially break to new highs.

Scott Redler Scott Redler is the Chief Strategic Officer of T3 Live. He develops all tradingstrategiesfor the service and acts as the face of T3 Live. Mr. Redler focuses on thorough preparation and discipline as a trader. Scott Redler has been trading equities for more than 10 years and has more recently received widespread recognition from the financialcommunity for his insightful, pragmatic approach. He began his career as a broker and venture capitalist where he was able to facilitate relationships that led him into trading. Beginning his trading career at Broadway Trading in 1999, Scott moved on with Marc Sperling to Sperling Enterprises, LLC after establishing himself as one of the best young tradersin the firm. As a manager at Sperling Enterprises, he maintained his status as a top trader in the industry while working closely with all traders in the firm to dramatically increase performance. Scott has participated in more than 30 triathlons and one IronMan triathlon, exhibiting a work ethic that also defines his trading. His vast knowledge and meticulous attention to detail has led to regular appearances on CNBC, Fox Business and Bloomberg, and he has been quoted in the Wall StreetJournaland Investor’s Business Daily among other publications. Scott produces much of the media and content available to subscribers and followers.

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*DISCLOSURES: Scott Redler is long (NASDAQ:LNKD), (NASDAQ:DNKN), (NASDAQ:YNDX). Short (NYSEArca:SPY).


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