15 replies to this topic

[denleo]

I am scaling into longs here. Unemployment report is a guaranteed gap up. By the way, it could be a shorting opportunity (short-term). Shorting tomorrow or not, right now it is important to get ready for the scheduled unemployment report pay check. The only concern here is that the gap can only be up 2 or 3 points, which represents very little profit and it will be hard to short. Denleo

[hiker]

why do you think likely the market will be up tomorrow a.m.? just curious why you are so confident I read Dave's chat transcript from last night so I know what his upside bias is for the future ("we just need a couple of confirmations ")

Edited by hiker, 31 May 2007 - 01:26 PM.

[Tor]

I am scaling into longs here. Unemployment report is a guaranteed gap up. By the way, it could be a shorting opportunity (short-term). Shorting tomorrow or not, right now it is important to get ready for the scheduled unemployment report pay check. The only concern here is that the gap can only be up 2 or 3 points, which represents very little profit and it will be hard to short.

Denleo

I think it will accellerate up from here. DOW 14,000, SPX 1,555. I dont see it gapping down personally. Bears are getting mutilated.

[denleo]

We already had a gap down this week. One is enough. Report analysis: We created many jobs = economy is strong = bullish We created the expected number of jobs = Goldilocks = bullish We created very little or lost jobs = less inflation = bullish So the first reaction is a spike up. GUARANTEED!!! Denleo

[gti_99]

It just seems market goes up no matter what, on good news, bad news or no news. I guess that's what a bull market does. By the way, for denleo and Tor, you both called the top the week before the end of Feb. drop. That was just wonderful. Please do keep us posted when the next time your indicators say the same. Greatly approciated. Thanks.

[relax]

I'm with you, but maybe this time is different as it comes one day after the extremely poor GDP data, which creates a very weak backdrop

Nonetheless the employment report should once again provide a small reaction which does not change the trend, which is up

We already had a gap down this week. One is enough.

Report analysis:

We created many jobs = economy is strong = bullish

We created the expected number of jobs = Goldilocks = bullish

We created very little or lost jobs = less inflation = bullish

So the first reaction is a spike up. GUARANTEED!!!

Denleo

[youmast]

I am scaling into longs here. Unemployment report is a guaranteed gap up. By the way, it could be a shorting opportunity (short-term). Shorting tomorrow or not, right now it is important to get ready for the scheduled unemployment report pay check. The only concern here is that the gap can only be up 2 or 3 points, which represents very little profit and it will be hard to short.

Denleo

I know nothing about "reports". My model shows NEGATIVE or SMALL DOJI day tomorrow, followed by 3 days RALLY after that. Will see....

[eminimee]

I'm scaling back into spx puts...july 1530's...half complete. Looking at 707.60 OEX to complete an ED.

[hiker]

thanks Dennis for your reply...I am trading with a net short bias into tomorrow a.m., tho' I am exposed both long and short. Time will tell.

[jjc]

We already had a gap down this week. One is enough.

Report analysis:

We created many jobs = economy is strong = bullish

We created the expected number of jobs = Goldilocks = bullish

We created very little or lost jobs = less inflation = bullish

So the first reaction is a spike up. GUARANTEED!!!

Denleo

I agree with your forecast for the gap.... and your reasons are very creative.