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Strategies & Market Trends : KEEP IT SIMPLE TRADING
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To: mistermj who wrote (278)4/1/2004 11:19:12 AM
From: Michael Watkins  Read Replies (1) of 321
 
Gap didn't happen but I suppose the opening reaction of markets given a) dow reshuffling and b) tomorrows jobs number, which *everyone* and their dog are waiting for is not surprising. That it could move up suggests that it can move up further still with a little help from news tomorrow.

Mostly expecting back and fill action intraday, perhaps a late day sell off. If the bullish crowd wants to set up a big rally they will not let it get too deep. On the other hand, at big tests, its never pretty.

If jobs number even mildly positive, would expect market to eventually shrug it off and move higher.

Perhaps your short profund trade should wait until the outcome? At 2X leverage, not much wiggle room available...
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