Friday, January 8, 2010
Traders Caught Off Guard
The expectations had gotten too high, so a disappointment was going to send this market down. Surprisingly, ADP numbers came in right on the dot to predict the NFP. With traders leaning too long, I wouldn't be surprised to see a little forced selling at the open. I don't think it will last long though. The jobs number doesn't change my outlook on the market at all. I will be looking to short sometime during the middle of the day today, but not at the open. Just picking my spots.
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4 comments:
Unfreaking believable. Disappointing numbers and the market doesn't really flinch.
My EDZ is lower today than yesterday.
Oh well, time for the next play..
What else is on the economic, geopolitical, or company calendar for the next week?
I guess if we go down it will just be a roll down, nothing dramatic, with more dip buying as usual.
INTC and JPM earnings on Thursday afterhours/Friday premarket.
Great that's a week for traders to figure out they were greedy for nothing. M,T,W will be down days.
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