Give Up

The bounce players are throwing in the towel.  They looked for 1040 to hold and for us to bounce to 1060-1070.  Many are throwing in the towel and I expect there to be volatility as the momo funds sell and the value funds buy.  Also today is the first day of the month, so there will be rote buying by institutions.  A negative is of course the reluctance to hold long ahead of the nonfarm payrolls which everyone knows will be weak.  I am staying on the long side.