This article originally appeared Aug. 30, 2013, on Real Money. To read more content like this, + see inside Jim Cramer's multi-million dollar portfolio for FREE Click Here NOW.
History of Labor Day
"Labor Day, the first Monday in September, is a creation of the labor movement and is dedicated to the social and economic achievements of American workers. It constitutes a yearly national tribute to the contributions workers have made to the strength, prosperity, and well-being of our country." - U.S. Department of Labor
Two Signs the U.S. Economy Is Laboring
- 77% of the 1 million jobs created in 2013 could be classified as part-time.
- On average, state personal income fell 1.2% in the first quarter...but inflation declined only 0.2%.
Congratulations, you made it to Labor Day weekend with at least 35 stocks that are worth considerably more (hopefully) than on Jan. 1. That is no small achievement considering the powerful cosmic forces embedded in the markets that could have wreaked havoc on your financial well-being, at a drop of a dime.
When returning to the office on Tuesday we will be in September, a dreaded month for investors, according to those that pray at the altar of the Stock Trader's Almanac. Things could get downright ugly indeed, as there is a
meeting that has been circled on the calendar since three years ago. That will be accompanied by a bunch of elected folk out of touch with reality blowing hot air on C-Span regarding the debt they and their predecessors created. Add to that the geopolitical risks that abound from a country with cowardly leaders that smile prior to dropping gas on innocent civilians.
In front of this snack tray of potential market badness, I suggest a straightforward approach: Do like me and have no Labor Day celebrations. Yes, that is correct, kind sir or madam. Cancel all plans, hibernate in the home office and embody the spirit of the U.S. labor movement by pouring some good ole' fashioned blood, sweat, and tears into the pursuit of profitable macro and micro investment themes/opportunities.
I am telling you this now: Ignore my advice at your own peril. Come Sept. 3, 2013, you will be overwhelmed by an abundance of news and investment bank maneuvers in order to position clients to win in a likely volatile September. Be prepared, and commence that preparation today.
My Personal List of Labor Day To-Do Items
Initial jobless claims had a pretty nice showing in August (provided you want to see the U.S. economy do better than +2.5% GDP). That really spurred hope for an acceleration in non-farm payrolls following a disgusting July reading.