Wednesday, July 6, 2011

Ahead of Jobs Reports

The ADP employment numbers will be out tomorrow.  With last month's bad numbers lowering expectations, the odds favor the bulls despite running up here into the close.  If the numbers beat consensus for nonfarm payrolls, that could be the capitulation of the shorts who have been fighting this rally.  It would probably set up a good short term short play.  But I want to emphasize that the short side is the hard side for the next couple of weeks.

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