Caution Ahead Of US Employment ReportMatthew McCallupdated Nov 07, 2008TweetAt GET.com we maintain complete editorial integrity on our content & provide transparent & unbiased information. Companies don't pay us to include their products although we receive a compensation when you successfully apply to products from our partners. See how we make money here.At GET.com we maintain complete editorial integrity.The market continued where it left off yesterday and we are into day two of the Obama Sell-Off. The Dow [[^DJI]] closed down 443 points or 4.9% at 8695. The S&P 500 [[^GSPC]] tumbled 5% or 47 points to 904. The NASDAQ [[^IXIC]] actually held up the best despite negative news from Cisco (CSCO) last night, falling 72 points or 4.3%.THE BOTTOMLINE: The markets have given back about two-thirds of last week’s gains and are now in danger of falling back to the lows of October. This would not be the end of the world and as a matter of fact might be a great buying opportunity to continue building long-term positions in solid companies. But I will touch on that if it happens. Personally I feel the market has priced in a much worse than expected jobs report tomorrow and there is a chance of a rally. The consensus is for about 200K job losses and I agree with many on the Street that it will be worse, but again I feel that 250K has been priced into stocks. A very bad number would definitely hurt the market, but it could be an opportunity to go long early tomorrow morning.Obama is also planning on speaking tomorrow afternoon. The way the last hour of trading has been lately and heading into a weekend - this scares me more than the employment number. In the end, be ready for a very volatile day on Wall Street.ONLY ONE DOLLAR!!!! According to the monthly sales numbers today it appears the only places consumers are spending their money is the discount retailers like Wal-Mart (WMT). The country’s largest retailer posted decent numbers, all things considered, and after trading in the green for the majority of the day, fell 1.2%.THE BOTTOMLINE: No surprise that one of the best performing retailers today was Dollar Tree (DLTR), which rallied 8% and is within 7% of a new 52-week high. There are not many retailers or stocks that can say that. Family Dollar (FDO) closed higher by a few pennies, but also has a very solid chart. If a dollar is too much, the 99 Cents Only Store (NDN) was down less than 1%, but did hit a new 52-week high last week.I honestly must say that I do not shop at the dollar stores, but maybe I should to save more money for my little piggy bank. Apparently I am the only person not joining in the discount craze. I think it was the years of growing up as a child on discount clothing that now has turned my psyche against it. But, what I will do this weekend is venture into one of the discount stores to do real-life research on the companies before I recommend the stock to my clients. Depending on how it goes I will fill you in next week!Editorial Disclosure: Any personal views and opinions expressed by the author in this article are the author's own and do not necessarily reflect the viewpoint of GET.com. The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author's alone, not those of the companies mentioned, and have not been reviewed, approved or otherwise endorsed by any of these entities.