When A Stock Seems A Screaming Buy...

"When a falling stock becomes a screaming buy because it cannot conceivably drop further, try to buy it thirty percent lower." - Al Rizzo

"You don`t need to be a weatherman to know which way the wind blows" - Bob Dylan

Silver, Silver, Silver.

Everybody talks silver these days. Now Cullen Roches from the Prag Cap calls silver a bubble and gives it a try on the short side. While I agree with his view I am just watching it and not playing it long or short:

"Silver is up over 100% in the last 7 months! Is there an irrational bubble forming in silver? I certainly believe so. And as of yesterday I am putting (a very small amount of) my money where my mouth is. Remember, bubbles are highly unpredictable and dangerous environments. Play in this pool at your own risk – on both the long side and the short side….For most investors, the wise move is to simply steer clear of what is clearly a very unstable environment." - in The Prag Cap

Related: IShares Silver (SLV), Hecla Mining (HL), Coeur Alene Mines (CDE)

A Good Trading Book.

"I have learned through the years that after a good run of profits in the markets, it`s very important to take a few days off as a reward. The natural tendency is to keep pushing until the streak ends. But experience has taught me that a rest in the middle of the streak can often extend it."- Martin Schwartz, in Pit Bull

If you are looking for a good trading book to read, check Pit Bull - Lessons From Wall Street`s Champion Day Trader (by Martin Schwartz). Its one of my all time favorites. I will be away from the desk today.

Have a great day!

Big Volatility In Oil Today. Nice Intraday Rally.

There was a big intraday rally in Nymex Oil Futures today. It seems it will trade higher for the rest of the week.

Related: United States Oil Fund (USO)

Bullish After Hours Session: INTC, JNPR & IBM

Pretty bullish after hours session so far. Intel (INTC), Juniper (JNPR) and IBM trading higher.

Goldman Posted Fantastic Earnings But...

This earnings season has been brutal for many stocks. Goldman Sachs (GS) is the last victim. After reporting excellent earnings, the stock sells off hard:

A stock doing well today on earnings is Zions Bancorp (ZION). Even though the stock gapped up and has been slowly moving down:

Trading Is Simple But Not Easy.

"There is no such thing as being right or beating the market. if you make money, it is because you understood the same thing the market did. If you lose money, it is simply because you got it wrong. There is no other way of looking at it." - Musawer Mansoor Ijaz

Enthusiasm & Success

I love this quote, "Nothing great was ever achieved without enthusiasm." - George Ellis

To excel in what you do, you really need to have a passion for it. There`s no other way. I love trading.

Gundlach: Bullish On Bonds, Bearish On Stocks & Economy

Jeffrey Gundlach is my favorite bond fund manager and I always read his market commentary with particular interest. He commented the S&P outlook downgrade and its impact on asset classes:

"The S&P warning is good for Treasuries and bad for the economy and stocks" - Jeffrey Gundlach, in Reuters

Related: SPDR S&P 500 ETF (NYSE:SPY), iShares Russell 2000 Index (ETF) (NYSE:IWM), ProShares UltraShort S&P500 (ETF) (NYSE:SDS), ProShares UltraShort QQQ (ETF) (NYSE:QID), SPDR Dow Jones Industrial Average ETF (NYSE:DIA), ProShares UltraShort 20+ Year Trea (ETF) (NYSE:TBT), iShares Barclays 20+ Yr Treas.Bond (ETF)

Time For A Reflex Rally In Cisco Systems (CSCO)?

Cisco Systems (CSCO) has been trading down for 8 consecutive sessions. Here`s the chart:

Its probably a good time to be thinking of going long this stock for a short term reflex rally...

Two Interesting Scenarios For The S&P 500 Index: A Soft Landing & A Hard Landing

Here`s an interesting analysis from Nomura Securities:

They see a correction developing anyway, depending on how Central Banks act in the months ahead.

Related ETFs: SPDR S&P 500 ETF (SPY), ProShares UltraShort S&P500 (ETF) (SDS), PowerShares DB US Dollar Index Bearish (UDN), PowerShares DB US Dollar Index Bullish (UUP), ProShares UltraShort 20+ Year Trea (ETF) (TBT) , iShares Barclays 20+ Yr Treas.Bond (ETF) (TLT) , iShares Lehman 7-10 Yr Treas. Bond (ETF) (IEF)

Austerity Is Arriving To The US

I think this S&P rating change on the US Debt will be the inflection point in the risk trade. Stocks and commodities will be hard hit by the arrival of austerity in the US. Besides many markets had a big, historic run up, so they were prone to a correction anyway.

I don`t have much time to extend my thoughts as I am very busy trading in a very active market. Fasten your seat belts!

S&P Cuts US Outlook To Negative. S&P Dives, Metals Rise

When the news broke, markets moved and moved fast. S&P Futures are now down 20 points and Silver and Gold reversed to the upside.

I would not be surprised to see gold end the day in the red in a classic blowout top on a major news. Still watching, with no trade on. This will be a very interesting session.

Silver & Gold In BubbleLand.

"This is not a popular call, but investing isn’t a popularity contest. The bottom line is that silver prices are on an unsustainable course. If I had to pick one bubble in the world today it would be the silver market." - in The Prag Cap

Silver is the most discussed topic these days on financial blogs. I agree with Cullen Roche and I will add gold to that statement. Gold and silver will correct meaningfully very soon, probably starting today.

Here`s IShares Silver ETF (SLV) chart:

While Gold`s rise isn`t that spectacular, I can argue that an asset that rises for 10 straight years is due for a correction.

Related: IShares Silver ETF (SLV), SPDR Gold ETF (GLD), Hecla Mining (HL), Novagold (NG), Coeur Alene Mines (CDE)

US Dollar Rallying, Stocks Down

The tone is set for the week. US Dollar is rallying, stocks and commodities are weak.

Earnings reactions have been quite negative with market participants even punishing companies that report better than expected results. It started with Alcoa`s (AA) big drop on earnings and Google (GOOG), JP Morgan (JPM) and Bank of America (BAC) have also performed badly. I expect that trend to continue.

Will The End Of QE2 Induce A Rally In The US Dollar?

I found this very interesting piece in the Prag Cap:

"It’s about that time when the smart money is beginning to think 10 moves ahead in the chess game. And in this game, the only piece worth focusing on is QE2. QE2 ends on June 30th and traders are already jockeying for position. How soon will the QE2 trade end? No one can tell. It could be a sell in May or it could be a sell the news. But one thing will be very clear when it occurs – the US dollar will stage a counter-trend rally." - in The Prag Cap

The "QE on, QE off" will be the hot topic in the market till the summer. Fasten your seat belts.

Google (GOOG) is being hard hit after reporting its earnings. Bank OF America (BAC) also reported a few minutes ago and is trading flat.

I will leave with the Jaguar XKR S2. What a beauty!

Have a great day!

John Paulson: Biggest Risk For The US Recovery

"To me, the major risk for the U.S. recovery is stagnating housing market." - John Paulson, Hedge Fund Manager

Related: Lennar (LEN), Toll Brothers (TOL), KB Home (KBH), DR Horton (DHI), Pulte Group (PHM)

El-Erian: I Don't Think We Are Near A Recession But I Think We Are Weakening

"I don't think we are near a recession but I think we are weakening. Watch the housing market. I think the housing market is again key. It won't go away." - El-Erian, Pimco

Slower Growth Says El-Erian

"I think people are going to be surprised that the first quarter, which was initially thought to be a four percent quarter, may end up two percent or below." - Pimco Chief Executive Mohamed El-Erian, CNBC

John Taylor: The Economy Will Be Back Into Recession By The End Of 2011

Another very interesting interview with John Taylor, the world’s largest FX hedge fund manager.

Have a great day!

The Quantitative Easing (QE) Paradox: Yields And Stocks Move Higher

We should expect yields to move lower during QE times. Not the case. This is what I call the QE paradox. Now with QE2 ending, what should we expect? Lower yields and falling stocks...

Related ETFs: SPDR S&P 500 ETF (SPY), ProShares UltraShort S&P500 (ETF) (SDS), PowerShares DB US Dollar Index Bearish (UDN), PowerShares DB US Dollar Index Bullish (UUP), ProShares UltraShort 20+ Year Trea (ETF) (TBT) , iShares Barclays 20+ Yr Treas.Bond (ETF) (TLT) , iShares Lehman 7-10 Yr Treas. Bond (ETF) (IEF)

Who Bought Hecla Mining (HL) To Play Silver Must Be Disappointed...

With silver so red hot shouldn`t Hecla Mining be trading a bit higher:

Pretty disappointing for traders who bought it to play silver. Imagine what this stock can do when silver reverses...

"I was in search of a one-armed economist so that the guy could never say 'on the other hand.'" - Harry Truman

Honeywell (HON): A Textbook Correction?

Its certainly a rare event to see a blue chip like Honeywell (HON) correct like this. Its this a perfect textbook correction to the 50 day SMA?

I am still bearish and short the S&P 500 Index. Its has been trading down for 4 days.

Nice match on MonteCarlo Masters Series starting just now. Andy Murray is playing against Stepanek. I have 3 screens on the market and one on the match.

By the way, nice up move on Southwestern Energy (SWN). I told you so. :)

Have a great day!

Silver Is The Bellagio Of Wall Street

This quote really caught my attention,

"Silver is the crack to gold's cocaine: Cheaper, wilder and faster. The retail investor is in silver. Big time. They are petting their silver mining stocks and calling them "My Precious"." - in The Reformed Broker

I agree. Silver is the "Bellagio" of Wall Street. And all bubbles end the same way, crashing down. Now that retail investors are all over it, the time for an abrupt, out of order sell off is in place. I will be close watching SLV and Silver Futures in the next few days/ weeks.

While some call this a bull market, I prefer to call it an accident waiting to happen...

Related: Hecla Mining (HL), Coeur Alene (CDE), Silver Wheaton ( SLW), iShares Silver Trust (ETF) (SLV)

Mobius: Japan Is Cheap

"The valuations are now looking very attractive in Japan." - Mark Mobius, executive chairman at Templeton Emerging

Related ETFs: iShares MSCI Emerging Markets Indx (ETF) (NYSE:EEM), iShares MSCI Japan Index (ETF) (NYSE:EWJ)

Nascent Signs Of Oil Demand Destruction In The United States

"Not only are there now nascent signs of oil demand destruction in the United States, but also record speculative length in the oil market, elections in Nigeria and a potential ceasefire in Libya that has begun to offset some of the upside risk‚ owing to contagion." - Goldman Sachs

Oil really came crumbling down today with Goldman`s bearish call. Oil futures were way, way overbought and this is what normally happens to a market in a such condition. No surprises there.

Related: United States Oil Fund (USO), Exxon Mobil (XOM), Murphy Oil (MUR), ConocoPhillips (COP), Marathon Oil (MRO)

Southwestern Energy (SWN): Down 9 Sessions In A Row. Now Its Interesting To Play It.

I was not sure if it was good to play Southwestern Energy (SWN) because the market had a lot of downside but now that the market corrected a bit (I am still short) I think its an interesting trade on the long side. If I decide to play it tomorrow I will be nimble. This is not a market to commit big money on the long side...

The S&P 500 Index is now down for 4 straight sessions. Oh boy, what a fantastic session it was today. Oil selling off hard, stocks down. Can`t wait for markets to reopen tomorrow.

I will leave you with Pink Martini performing their song "Hey Eugene" on David Letterman. Great sound.

Related: Southwestern Energy (SWN), SPDR S&P 500 Index ETF (SPY), United States Oil Fund ETF (USO)

Southwestern Energy (SWN): Down 9 Sessions In A Row.

While I am bearish and short on the market it seems there will be an interesting long opportunity on Southwestern Energy (SWN) soon. The stock sold off for 8 consecutive sessions and is trading down again today:

The bearish bet on Alcoa (AA) was nothing short of perfect. Alcoa (AA) is trading down 4.8% as I write.

Have a great day!

Goldman Sachs On Oil Prices, Alcoa (AA) & Earnings Season

Here`s an interesting bearish/ less bullish oil outlook from Goldman Sachs:

"Although potential contagion risk in the Middle East and North Africa (MENA) remains elevated and has pushed prices above $125/bbl, at these price levels the risks are becoming more symmetric, which shifts the risk/reward of being long oil. Not only are there now nascent signs of oil demand destruction in the United States (see April 5 Energy Weekly), but also record speculative length in the oil market, elections in Nigeria and a potential cease-fire in Libya that has begun to offset some of the upside risk owing to contagion, leaving price risk more neutral at current levels." - by Goldman Sachs

On a different topic, yesterday`s call on Alcoa (AA) was pretty good. Alcoa shares traded lower in the after hours session as I expected, down 2.3%.

I will send a new earnings setup to subscribers later today.

Have a great day!

Related ETFs and stocks: United States Oil Fund (USO), Goldman Sachs (GS), Alcoa (AA)

Earnings Season Starts Later Today: Alcoa (AA) Will Report After The Bell

Alcoa (AA) will kick start the earnings season after the bell. Analysts are expecting earnings of 27 cents per share. Here`s the one month chart for the company:

Traditionally Alcoa (AA) disappoints on earnings, so my outlook is bearish for the earnings release. Fasten your seat belts, earnings season is about to begin...

Have a great day!

Corning (GLW): What A Sequence!

Will Corning (GLW) trade down for the 11th consecutive session today? Amazing chart,

Earnings season will start today with Alcoa`s earnings after the bell. So, there will be plenty of action for stock traders over the next few weeks.

Meet the Bentley Continental Supersports. What a car!

Have a great day!

QE2 Is Ending. What`s Next?

"QE2 is ending on June 30th. The program will, by that time, have pumped $600 billion into the economy, meeting Chairman Bernanke’s stated goal of jump-starting the stock market. The end of the program means a defacto tightening of monetary policy. This has been the major factor holding up both the stock market and a fragile economy that will not be self-sustaining once the Treasury bond purchases are halted. A continuation of quantitative easing is highly unlikely as it would be politically difficult. Furthermore an increasing number of FOMC members are themselves hinting at a possible imminent tightening." - By Comstock Partners, in the PragCap

Related ETFs: iShares MSCI Emerging Markets Indx (ETF) (NYSE:EEM) , SPDR S&P 500 ETF (NYSE:SPY), ProShares UltraShort S&P500 (ETF) (NYSE:SDS), iShares Russell 2000 Index (ETF) (NYSE:IWM), Financial Select Sector SPDR (ETF) (NYSE:XLF)

I Need To Be Right 7 Or 8 Times Out Of 10

"Most books on trading say that you only have to be right 3 or 4 times out of 10 if you cut your losses quickly and let your profits ride. That doesn`t work for me. I cut my losses quickly, but I take my winners just as quickly. I need to be right 7 or 8 times out of 10"

- Marty Schwartz, Pit Bull

Is China The Wild Card?

Interesting analysis by the Comstock Partners research team:

"China is battling against soaring inflation and has increased interest rates four times in the last five months in an attempt to slow down the economy. No financial bubble has ever been stopped without a recession, and we doubt that this will be the first. This would have major ramifications on the global economy including the commodities markets, emerging market suppliers, multinational corporations and the U.S bond market." - By Comstock Partners

Have a great weekend!

Are Algorithms Driving Oil Higher?

Interesting video on oil prices:

“The speculators have taken control of the market and it’s now out of control.” - David Greenberg, Greenberg Capital

Related ETfs: United States Oil Fund LP (ETF) (NYSE:USO), iPath S&P GSCI Crude Oil Total Return (NYSE:OIL), ProShares UltraShort DJ-UBS Crude Oi ETF (NYSE:SCO)

Winning Traders Are Confident And Fearless

Many readers have asked me through out the years what do I think winning traders have that other traders don`t. Well, it`s not an easy answer as you can imagine. But I can tell you that winning traders have been trading for many years (certainly more than 5 years) and they are both confident and fearless.

They are confident because they support their trading on high quality research or they rely on their experience to guide them (obviously to develop this 6th sense you need more than 5 years) and are also fearless, meaning they are not afraid of losing money on any single trade. Losing is a necessary ingredient in trading. Winning trades don`t care if the current trade is a winner or a loser. All they care about is to do the right thing, money follows. I can tell you that the less regard you have for money, the better trader you will be.

I recall Sir Bobby Robson when he told his players before an important european match, "don`t be obsessed with scoring goals. Just go out there and play your best and goals will come naturally."

There are a few great books on market psychology. These are my favorites:

- Super Trader: Make Consistent Profits in Good and Bad Markets, Van K Tharp
- The Disciplined Trader: Developing Winning Attitudes, Mark Douglas
- Way of the Turtle: The Secret Methods that Turned Ordinary People into Legendary Traders, Curtis Faith
- Trading for a Living: Psychology, Trading Tactics, Money Management, Alexander Elder

I hope that list helps. Have a great day!

Is Silver In A Bubble?

The Prag Cap wrote a very interesting article on silver and its "bubble characteristics". While I am more bearish on gold than in silver I enjoyed reading his article:

"Is silver in a bubble? No one can be certain, but this market is surely displaying some bubbly characteristics. Given the history of bubbles (such as the Nasdaq) and the various characteristics of bubbles we can see that silver would certainly qualify as being a “high risk” bubble market. This does not necessarily mean it is on the verge of collapse (as we saw with the Nasdaq the bubble grew further before collapsing), however, I would characterize the silver market as being in a highly unpredictable and unstable state given its current market characteristics." - Cullen Roche, The Pragamic Capitalism

Read the full piece here, SILVER PRICES DISPLAY SOME BUBBLY CHARACTERISTICS

Related ETFs and stocks: IShares Silver ETF (SLV), Hecla Mining (HL), Coeur d'Alene Mines Corporation (CDE), Silvercorp Metals Inc. (USA) (SVM), Silver Wheaton Corp. (USA) (SLW), SPDR Gold ETF (GLD)

How High Will Euro Rates Go?

“We’re definitely at the beginning of a rate-increase cycle. Markets are expecting that rates will go up to 2.25 percent within a year - that’s a hefty number of increases.” - Christoph Kind, head of asset allocation at Frankfurt Trust

The ECB will hike rates by 25bp later today (at least that is widely expected) but markets are expecting a series of rate hikes. Yesterday I read a fantastic article on this subject on ZeroHedge, Brown Brothers FX Commentary: Fade Tightening Expectations

I am watching German Bunds this morning. They have sold off quite aggressively over the last couple of months, I wonder if its time for a rebound rally. A sell the rumor, buy the fact event.

As you know I am a Ferrarista. I will leave you with a masterpiece, the new Ferrari FF. Enjoy.

Goldman Sachs: Portugal Is The Last Euro Zone Member To Seek A Bailout

“We do not expect any other EMU sovereign to be in need of financial assistance.” - Francesco Garzarelli, Goldman Sachs’s London-based chief interest-rate strategist

Two Doji`s And A Up Gap. I Am Very Bearish On Stocks.

I am very bearish on the indexes and expecting the 1330-1340 area to be a medium term top for the JUN eMini S&P Futures.

After 2 very narrow sessions we are opening higher without any major news out. I am not expecting the up gap to hold during the session but even if it does I am expecting lower prices going into next week. I read an interesting research report mentioning that the first hour of the session has been the most bullish recently, suggesting that the retail investors are buying the market and institutional players are quiet or selling.

Another argument I agree with is the peaking ISM indexes in the US and abroad. While economic conditions are arguably still good, the pace of the expansion is deteriorating. Of course, higher oil prices, questions about the strength of the chinese economy (that copper story from a few days ago is quite compelling) and a market that has doubled from the lows make quite a bearish case.

And of course, when a trader is bearish, he has to be short. I will leave with a great quote from a textile entrepreneur (early 20th century), "You cannot separate quality from technology."

Have a great day!

Related ETFs: iShares MSCI Emerging Markets Indx (ETF) (NYSE:EEM) , SPDR S&P 500 ETF (NYSE:SPY), ProShares UltraShort S&P500 (ETF) (NYSE:SDS)

Von Mises On Inflation

“Inflation can be pursued only so long as the public still does not believe it will continue. Once the people generally realize that the inflation will be continued on and on and that the value of the monetary unit will decline more and more, then the fate of the money is sealed. Only the belief, that the inflation will come to a stop, maintains the value of the notes.”

Ludwig Von Mises, Austrian School

Steinhardt: Rates Are Artificially Low

I mean, all these rates are artificially at these levels, don't you think? Don't you feel badly that all those quadrillions of geriatric savers have really gotten killed over these years and no one talks about them?

That Bernanke or Ber-Nancy as the cynics call him, he's screwed all those nice old people who saved all their lives to retire and he's paying them half of 1% or some other number its insufficient for them to live?

Michael Steinhardt, ex-Hedge Fund Manager

A Growth Slowdown Is Coming

"Global PMI new orders have dropped to 55 from the peak last month at 60. This is the first drop since September 2010, confirming the expected slowdown in growth." - Danske bank

Related: iShares MSCI Emerging Markets Indx (ETF) (NYSE:EEM) , SPDR S&P 500 ETF (NYSE:SPY), ProShares UltraShort S&P500 (ETF) (NYSE:SDS)

Short Term Bearish On Oil

I am bearish on Nymex Oil Futures and I am waiting for a 5-10 dollars per barrel correction. I agree with some of the reasons this strategist pointed out on CNBC:

Related: United States Oil Fund (USO)

David Rosenberg: ISM Index Analysis - Bullish For Bonds

“It is an interesting commentary on what is already priced in at the troughs and peaks in the ISM index. We went back the past three decades and found that the best time to be buying equities and selling bonds is when the ISM is hitting bottom – as was the case in late 2008 and early 2009. The stock market is typically up 20% in the following year and bond yields are higher. But at the peak, where the ISM is now at just over the 60 level for the past three months, the stock market goes up by less than half the amount it does coming off the bottom and look at what the detested bond market does – it rallies.” - David Rosenberg, Gluskin Sheff

Related: SPDR S&P 500 Index ETF (NYSE:SPY), ProShares UltraShort S&P 500 Index (ETF) (NYSE:SDS), ProShares UltraShort 20+ Year Treasuries (ETF) (NYSE:TBT), iShares Barclays 20+ Year Treasury Bond (ETF) (NYSE:TLT), iShares Russell 2000 Index (ETF) (NYSE:IWM), iShares MSCI Emerging Markets Index (ETF) (NYSE:EEM)

ISM Services And A Funny Video

On the economic front, we will have the ISM Services coming out at 10.00 ET.

The composite index from the ISM non-manufacturing survey firmed to 59.7 in February from 59.4 the prior month. The latest is the strongest reading since 61.3 seen for August 2005. The March composite is expected to come at 59.70 again.

Today is Champions League night in Europe so I will leave you with the worst miss ever (I don`t know the teams involved, I think its a match in the Middle East),

Bernanke Sees No Inflation, China Raises Rates Again.

"I think the increase in inflation will be transitory," Bernanke said in response to questions after a speech. "Our expectation at this point is that in the medium term inflation, if anything, will be a bit low. We will monitor inflation and inflation expectations very closely." - Ben Bernanke, FED Chairman in a speech late yesterday

While Ben Bernanke sees no inflation in the US, the chinese are fighting hard to combat price pressures and just hiked rates again overnight.

Pre-market is down today with eMini S&P Futures trading down 5 points and with Nymex Oil Futures down 0.50 dollar per barrel. I am expecting lower prices over the course of the next few days/weeks.

Have you read about the Texas Instruments (TXN) bid for National Semi (NSM)? A 75 percent premium is a fat premium isn`t it?

Have a great day!

Related ETFs: United States Oil Fund LP (ETF) (NYSE:USO), ProShares UltraShort S&P500 (ETF) (NYSE:SDS), Texas Instruments Incorporated (NYSE:TXN), National Semiconductor Corporation (NYSE:NSM)

Quiet Session So Far.

Very quiet trading session so far with very low volume on eMini S&P Futures. We have traded about 715,000 contracts so far today. Pretty low for this time of the day...

Listening to Jay-Z today mixed with a few other rappers on my ITunes DJ.

Mobius, There`s Always Inflation

Interesting quote from Mark Mobius, the emerging markets fund manager, "There's always inflation. No currency will hold its value. Not even the Swiss franc".

Have a great day!

Related: iShares MSCI Emerging Markets Indx (ETF) (NYSE:EEM)

John Bogle`s Market Outlook

John Bogle believes the market is fairly expensive right now.

Related: SPDR S&P 500 ETF (NYSE:SPY), ProShares UltraShort S&P500 (ETF) (NYSE:SDS)

Gold Still Looking "Toppy"

There has been some crazy action in gold recently. Up, down, up and down again seems to be the pattern in gold these days. The gold market is making a big band near the top of its recent price action and seems to be unable to blast higher.

With interest rates now going up in many countries and with the ECB ready to join on the HikeFest gold is being pressured by higher yielding alternatives. But such a bull market, running for 10 years without even a down year in between, is giving quite a fight.

Related: SPDR Gold Trust (ETF) (Public, NYSE:GLD)

All Eyes Will Be On The Employment Report

All eyes will be on the jobs data coming out at 8.30 AM ET. The recent history suggests that a big upside or downside surprise triggers a sell-off, while a consensus number is bullish for the market.

Besides there`s the strong seasonality of the first day of the month but with the recent run up that is probably already well discounted. Fasten your seat belts for a volatile session.

I will leave you with a retro sound today. :)

Related ETFs: SPDR S&P 500 ETF (NYSE:SPY), iShares Russell 2000 Index (ETF) (NYSE:IWM), ProShares UltraShort S&P500 (ETF) (NYSE:SDS), ProShares UltraShort QQQ (ETF) (NYSE:QID)