POSITION: No Position
What a train wreck that employment number was – and, at the end of the day, when markets pin their hopes on Keynesian economic resolve, that’s what you get – disappointments versus fleeting expectations.
- Immediate-term TRADE – SP500 is in no man’s land (1323 support, 1363 resistance)
- Intermediate-term TREND – SP500 is fine; TREND line support = 1314
- Long-term TAILs – 1220 support; 1377 resistance
I was too net long going into today’s market open, so I took the changed facts and tightened up my net exposure to 11 LONGS and 9 SHORTS.
Keith R. McCullough
Chief Executive Officer