I’ve been reading many doom & gloom forecasts for the US economy primarily because the housing sector is slumping  but  the real story behind the economy can be extrapolated in part by what is happening on Monster.com. Monster is a huge job board and I periodically log on to see how the job market is doing.  I usually browse three sectors: Healthcare, Energy & Technology.   I choose these three industries because I believe they are the current and future economic engine of the United States.   Over the past few weeks I have seen a tremendous surge in job postings in these industries and the salaries offered for many positions are often at a premium.  Technology is hot.  Energy (Oil & Gas) is hot. Health care is hot.
Additionally, a housing sector slump won’t necessarily derail the healthcare/energy/technology industries and this is important because I will be basing some investment decisions on what is happening in these sectors.

If you’ve been following my trading over at www.etfcoveredcalls.com you might have noticed that I recently bought 1000 shares of SMH and sold 10 January $35 Call contracts to earn a quick 2.5% profit with upside potential of 4.7% profit.

With Microsoft releasing Vista & new office suite, Apple red hot with iPods, Macbooks and possibly iPhones & TVs and the healthcare, energy and technology industries all hiring I’d say the economy is firing on 3 of 4 cylinders.

Having said all this I do think there are some potential problems.  Instability in the middle east could send oil to $100/barrel which would sour any economy along with the usual grab bag of issues: North Korea, Africa, Israel/Palestine, Iran, and so forth but overall I’m becoming more optimistic.