Well...as the Bin Laden death celebrations (does that seem strange to anyone else?) fade and traders realize that is not the best reason for a stock market rally, we may see interest move back toward less risky trades.
Yesterdays VIX certainly was signaling a move toward volitility. I expect faily sideways and choppy trade until we start seeing some employment reports. Those begin tomorrow.
We are still positioned for a pretty big move up, but need to stay above 102.80 and close above 103 in the next 3 trading sessions. If that does not happen...we could get the oposite. How is that for hedging my position? For what it is worth, I am bullish on bonds but a great employment report can change all that. My bullishness is more technical at the moment.
Have a great day!
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