Friday, February 5, 2010
Nonfarm Payrolls Pessimism
There is a lot of pessimism going into this nonfarm payrolls report. The European debt situation is only adds to the fear. I think those fears are evident in the prices of the ES and in particular, the Eurostoxx index. It seems to me that most nervous longs are already out ahead of this nonfarm payrolls number, and if it comes in close to expectations, I expect a pop and a gap fill. If we do get that pop, I will short into it and look for intraday weakness to cover and reverse to long.
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5 comments:
Where are you looking to get short? I have no intention of getting short but I might flip my SPY.
SHORT DAWGZ MUST GET SQUEEEZED TILL THEIR EYEBALLZ BULGE OUT AND THEY REGURGITATE LAST NITES PURINA PUPPY CHOW.
I was able to sell and repurchase at a lower price. I got 4 free shares of EWZ. I'm 100% long going into the weekend. Good luck everyone!
SOLD 3/5 OF CPF @ 1.29
DOLLA DOLLA BILLZZ YALLLZ
-OL DAWG
Sorry, about the late response. I was crazy busy trading, but I did get short near the open and covered on the dip for a quick daytrade, and reversed. But I think it is risky to get short at these levels for today. The market has been beat up and it doesn't feel like we will go down lower today at least.
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