Thursday, July 1, 2010

7/1 pre-open

Claims were up, confirming the ADP data.  Expectations for the jobs report are +110,000.  This is probably high.
I am flat all positions.  Going to town today and tomorrow.  I'll look at the markets in my hotel this evening. If DJI closes below 9650 then I'll consider going short into the I1 bottom.  We have taken the heart out of this down move.  There are 2.5 trading sessions left until the I1 bottom.  The stock market is at support.  If the DJI is below 9600 at noon 7/6 then I'll keep a position short.

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