Usually when the NFP comes out, the best play is to fade the first move, that is, if we move sharply up after the announcement, then one should sell, and if we move sharply down, one should buy. I agree with the sell portion of that theory, but I wouldn't be so eager to buy on the first move down. I would wait for things to settle down a bit if we do have an initial selloff on the report.
We're slowly grinding higher here in afterhours, it looks like shorts are feeling the pressure and if we blow, it will likely be to the upside.
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