Bullish Morning

After another strong jobs report, the market is set to open higher this morning.  After closing in the upper bollinger band yesterday, this morning’s gap higher is a slightly uncommon event.  For years John and I have joked about market reversals on jobs reports as it seems to happen more often than not.  The gap higher into the upper band also increases the likelihood of a short term market reversal.

With that said, my positions on SDS and CAT are set to open with losses on this market move higher.  I plan to stick with my stop on CAT of yesterday’s high and will continue to ride SDS.

Advertisements

Posted on March 6, 2013, in Jeffs 3k-100k. Bookmark the permalink. Leave a comment.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: