Today has been somewhat of a see saw battle before
the release of the non farm payroll report tomorrow
The market gapped up this morning and ran up to
a high of 2,011.17 on the S & P 500 and proceeded
to give back those gains.
The market has been trading in a tight range for the
past 10 days, so I expect this back and forth action.
The question is this … will the non farm payroll
be the news event that spoils the party or carries
the market higher?
At this point, I will still stay biased to the longside.
But, that doesn’t mean I would buy calls before the
announcement tomorrow morning.
In fact, at this point, I will wait to see how the market
reacts to the jobs reports and position myself
There are a number of instruments I like to trade
on days with marketwide announcements, the DIA
and SPY are just two of them.
A simple strategy is to put on a straddle or a strangle
in anticipation of increased volatility.
This way you are in the move no matter which way
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