Question for Economists: (Unemployment up, dow Up?)

OK:

Simple question:
Friday (2-6-09) the Dow Jones Industrial Average (DJIA) closed at 8280 up 217.5 points. The WSJ's graph shows job losses growing.

The (US) economy lost 3.6 million jobs since the recession started in December 2007, half of those losses in the past three months. The tally of lost jobs for the January period was 598,000.

So: Recap: Unemployment is up, and the DJIA is also up??

Commentators explained the rise in the DJIA as simply that investors were reacting to corporate job cuts, since it would save labor costs in US companies, and thereby increase profits.

---> In my humble opinion
This is simply sick. Wall Street, and investors in Wall Street are SICK, and need to be reigned in.
<------

I am also revising my economic predictions:

1) If you actually read my blog, you'll notice I now have a DOW Jones (DJIA) "widget" which will show the latest closing price on the top right of the blog (see here:)

2) I have gotten much more pessimistic about our economy. In a conversation I had at lunch today, we discussed the economy, and I mentioned my expectations that the economy will continue to go down, and when I said I think we will have another (almost) two years until MAY 31st, 2011 before the DJIA bottoms out at a low of 6750. (it closed at 8280 on 2-06-09). Reactions to my predictions were surprisingly positive.

And we discussed the unemployment numbers posted yesterday for January 2009. For two months it looked like we were going to have a 1% per rise in the monthly unemployment rate.

I would presume that with a monthly increase of 1%, then it would take about another 18-20 months until the OFFICIAL unemployment rate equaled 25% (officially another DEPRESSION).

So, because it seems like the unemployment rate is slowing again, I believe we will not get to the bottom of the current (I believe) depression until 2012 or 2013 now.