Top Line: On Friday, if you can recall that long ago, we heard about the jobs and how we lost only 20K for the month of April. This was apparently what the bulls were looking for early as the Dow jumped out of the blocks. We still noticed that the number was negative and so did the market. We set up some more short positions on Thursday and Friday and only have about 20% left in cash. We could be early but we think the market is still ready to drop any day now.
It is late and there is no good reason to stay up and try to come up with something else to say. The market is tired and needs to stop going up. We want to take full advantage of that as we move into May. The jobs' report marks the end/beginning of the month for us and it seems to be marked with an exclamation point, not what we were expecting at all. More tomorrow...
FSI: 94.34 (speculation lost some ground, predicting a fall in the market)
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment