All is well
Phil Flynn I PFGBEST - 08 March 2010

All is well. One dose of a better than expected jobs report and all our troubles just go away. Traders fearful that snow storms would have added to the countries employment woes were pleasantly surprised when Friday’s employment report seemed to suggest that it's not quite as bad as feared. The February unemployment rate held steady at 9.7%, with 36,000 jobs lost. The consensus expectations were for the unemployment rate to climb to 9.8% and for 65,000 jobs to be lost.

Now if that doesn't make you feel good enough on a Monday, then perhaps news that the French say they will stand behind Greece and their economic crises. Or maybe we have to take away some of those good feelings. Is it possible that building concerns over credit in China could wipe away these good feelings? Bloomberg News reports that, “China plans to nullify all guarantees local governments have provided for loans taken by their financing vehicles as concerns about credit risks on such debt increases." Bloomberg says that, "The Ministry of Finance will also ban all future guarantees by local governments and legislatures in rules that may be issued as early as this month," Yan Qingmin, head of the banking regulator’s Shanghai branch, said in an interview. The ministry held meetings on the rules on Feb. 25 with regulators including the China Banking Regulatory Commission and the People’s Bank of China.

These worldwide happenings in China and Greece could be significant as it may call into question everything oil bears believe about the market.

Call me for the latest updates at 800-935-6487 or email me at pflynn@pfgbest.com to open your account and see me every day on the Fox Business Network.

Phil Flynn
Senior Market Analyst
800-935-6487
312-563-8344
pflynn@pfgbest.com

Phil Flynn is Energy Analyst and General Market Analyst with PFGBEST (www.pfgbest.com). Phil is one of the world’s leading energy market analysts, providing individual investors, professional traders and institutions with up-to-the-minute investment and risk management insight into global petroleum, gasoline and energy markets. Phil’s market commentary, fundamental and technical analysis, and long-term forecasts are sought by industry executives, traders and global media.

Because he has been available to media around the clock, even during some of the most turbulent market periods in history, and because he has built a solid reputation for accuracy in his market analysis and forecasts, through thousands of interviews and broadcast appearances for more than a decade, Phil Flynn has become a headline-making name even as he continues to provide expert advice and customer care to his proprietary trading account clients.

Media highlights include: CNN, CNBC, Bloomberg, ABC, CBS with Katie Couric, NBC’s “Today Show” and “Nightly News with Tom Brokaw”, FOX’s “O’Reilly Factor”, PBS’s “The Newshour with Jim Lehrer” and “Nightly Business Report”, MSNBC’s “The News with Brian Williams”, Wall Street Journal Report, The Wall Street Journal, Business Week, Investor’s Business Daily, The New York Times, The Los Angeles Times, Chicago Tribune, Associated Press, The Toronto Globe & Mail, Houston Chronicle, Futures Magazine, National Public Radio’s Marketplace, a chat with the President of the United States, and many more venues.

You can read Phil’s daily market analysis and blogs at www.pfgbest.com.

PFGBEST is among the largest non-clearing U.S. Futures Commission Merchants, with customers, affiliates and brokerage offices in more than 80 countries. The company is a leader in sustainable investing through diversified products including managed funds, futures, forex, options, full-service and discount brokerage, trader education, market research, and direct online futures trading through its BESTDirect™ platform, and numerous other platforms and applications.

Phil’s commitment to and experience in futures trading is documented in two books, The Mind of a Trader (Financial Times/Pitman,1997), and Trading Online (publisher, date), both by Alpesh B. Patel. Phil is a lifelong resident of Illinois. He attended DaleyCollege in Chicago before beginning his career on the trading floor of the Chicago Mercantile Exchange.

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