Claims have been drifting well below normal levels throughout the month. On the eve of the January payrolls report tomorrow, it could just indicate that a blowout (strong) number for payrolls could be in the cards.

Typically January is our coldest month. It's definitely been a bit above normal.

It looked like we would be experiencing below-normal temperatures through mid-January but now it appears that the pattern will end by the end of the month. That has taken the steam out of natural gas and oil as well.

A rebound to solid levels would indicate today's report was not the start of a trend, ... Another month near these levels would create some concern about the strength of the housing sector.

This is in spite of gasoline rebounding 10 to 15 cents in January. This also squares with the jobless claims data.

We knew it would be mid-January before we had the team we knew we could be. This month is the first time we have had everyone on the mat that we wanted.