It is my own impression. I sense myself becoming bulletproof again.
This is generally a prelude to walking into a SCUD missile.
My fear, as I mentioned to Scott, is that the Employment/Non-Farm numbers tomorrow have the potential of either immediately tanking the market or allowing it to rally for a time first.
I wish not to get to bellicose about this, as it would likely cloud rationale thought. My thinking is that we rally today somewhat from mid-morning into late afternoon in front of the reports tomorrow. I am going to try to find the peak of the day and acquire a small short position ahead of the morning. If the numbers are soft, I shall immediately close the short and wait. If they are hard then I would think a nice cruise down the hill would be in store through Monday.
Just my thoughts. It's possible I won't even play what I expect to be the mid-day bounce. I will be too focused on trying to pick the high. If I had to pick a number.....which I hate to do....the number would be between 1112 and 1115 on the SP8M.
If I had to pick a time....which I love to do....I would be hard pressed as my data files were corrupted last week while I was in South Carolina. So, a truly WAG would be 2:05 ET, 3:05 ET, or right at the close.
If I nail this I shall definitely disappear for a while....because I am going to party.
BTW; If I have not mentioned it, that was truly a nice move on whatever that stock was. I have had days where I came close to losing that much, but I have never made nearly that much in a day, let alone in an hour or so. |
