Yeah, the I fund mocked me today . The market had an interesting day. In my comments today I mention two scenarios regarding the jobs report. Dave you hit on the second one.
"Ideally, the market will sell off a little between now and Friday and the report could be what triggers the next buy signal. On the other hand, if the market continues up this week, we could see a "sell on the news" drop Friday or Monday."
When everyone expects a good report, there is not much room for error, as you mention Dave. The rally we have had couldbe the "buy the rumor" rally. Even a good report could be sold (sell on the news) but a bad one will obviously be worse for the indices.
There were rumors that Greenspan suffered a heart attack today, but it was refuted. Those bears will do anything to get out of those short positions without a loss.
Also, being the last day of the quarter, there was a lot of finagling going on. As I mentioned before, institutional investors had to dump losers and pick up some winners for their quarterly report. Looks like about 2:00 ET the buyers came in, brought the prices up, then later they dumped the losers.
But I'm not sure I like the F fund. Regardless of what kind of market reaction we get from a good report, it won't be good for bonds. Only a bad report will help the bond market in my opinion.
Crazy day. I hope I'm not over analyzing it.
Tom
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