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Are you buying or selling stocks on today's bigger than expected jobs loss?

The Kudlow Caucus
The Kudlow Caucus

We asked our panel:

Are you buying or selling stocks on today's bigger than expected jobs loss?

Buy: 5
Sell: 6
Hold: 1

Watch "The Kudlow Report" tonight at 7pm ET and find out what out caucus members have to say about the bigger than expected jobs loss numbers.





The Kudlow Caucus Breakdown

BUY
Jerry BowyerChief Economist, Benchmark Financial Network
A jobless recovery is still a recovery.

BUY
Keith BoykinFmr. Clinton White House Aide / The Daily Voice Editor
I would buy for the short term expecting a fall rally and then a drop by the end of the year.

SELL
Doug KassPresidnt, Seabreeze Partners Management
As a result of the jobs data, many of the assumptions built into the bullish economic model for 2010 must now be re-examined.

SELL
Jim LaCampPortfolio Manager, Portfolio Focus, RBC Wealth Management
Co-Host, Opening Bell Radio Show, Biz Radio Network
The real answer is neither, and both! but if I had to choose it would be sell. I don't trade on news per se, but rather see first how the markets react and adjust accordingly. Yesterdays action raised several red flags so we have tightened all of our stops, while actually watching for weakness in leading stocks as a buy opportunity.

HOLD
Art LafferFmr. Reagan Economic Advisor
Chief Investment Officer, Laffer Investments
I’m not changing my portfolio as a result of these numbers. They are approximately what I thought they would be.

BUY
Joseph LaVorgnaFmr. Reagan Economic Advisor
Chief Investment Officer, Laffer Investments
I’m buying because stocks are cheap relative to their projected earnings stream. Nominal GDP has been negative the last quarters which has never happened. A turn to positive growth this quarter combined with operating leverage should be good for stock prices.

SELL
Donald L. Luskin Chief Investment Officer, Trend Macrolytics LLC
We’re way overdue for a correction, and this jobs disappointment is just part of the general revision of overall recovery exuberance that will trigger it.

SELL
Steve MooreSr. Economics Writer, The Wall Street Journal Editorial Board
I would be selling if I had any left. The stimulus is now an indisputable failure.

BUY
James Pethokoukis
Money & Politics Columnist
Reuters
Yes, unemployment will stay high and growth tepid. But money continues to flow into US financial assets. What's more, the political situation is evolving into a plus. Any big government policies not passed by year end ain't going to happen. 2010 is an election year and Republicans will be in an enhanced position after the midterms.

SELL
Robert Reich
Former Labor Secretary
Professor of Public Policy, UC Berkeley
Consumers are fading and aggregate demand is evaporating, except for the government’s stimulus and subsidies. And we can’t count on the latter for much longer.

BUY
Noam Scheiber
The New Republic
If I were active in the market and trading on today’s news, I’d probably buy. The lousy employment report hasn’t changed my view of the fundamentals—I already expected a tough, several-year-long slog, particularly in the labor market. But today’s numbers make it more likely that we get additional fiscal stimulus (for example, the extension of jobless benefits that’s currently bogged down in the Senate), which makes me marginally more bullish.

SELL
Lynn Tilton
CEO, Patriarch Partners
I am short term short but long term long on America.

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