Thursday, March 4, 2010

Tomorrow's NFP

The market is very quiet today ahead of the NFP, but notable is the lack of weakness ahead of the report.  The shorts just aren't able to get out of their positions at a decent price ahead of the jobs report.  The price action today is contrary to the consensus expectation that the number will come out poorly due to snowstorms and the weaker jobless claims numbers.  I don't know how the number will come out, but I expect us to trade higher after the release.  Thus, I am waiting till after the number comes out to put on my short position.  I am not interested in playing long at these levels.

2 comments:

Tsachy Mishal said...

I could see a rally lasting through Monday. I would leave some ammo if you short right after the number.

Market Owl said...

I will scale in on the short side, the higher we go, the more I will add. I am hoping to get short between 1130-1135.