Fund managers are betting that the NFP report is going to be ultra positive, as seen by the late buying of stocks. They are unwilling to be not long in the market at this level.
I will wait for the report tomorrow before making any trading decisions. Currently, my view that the DOW is still overvalued holds especially when the unemployment claims sux…
Once again, I am looking for a short position in SNDK at higher levels. Maybe at $55 if it ever goes there. Consumer confidence is still low in the US, consumer stocks should not be trading at high premiums. This includes LVS and WYNN, my top 2 short targets.
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