Tomorrow will mostly be about the ISM report with a sprinkling of the ADP Employment report mixed in. The Bear Gap from yesterday still has a higher probability of playing out to the downside, so in the absence of news I would be looking for puts. However, there will be plenty of news. If the ISM is terrible, and the market sells off, then expect another news bogey from the Plunge Prevention Team on Thursday. If the ISM beats expectations then the market will probably go back and test the highs from last week.
I won't be on VC tomorrow. I will give you a schedule update later. I may not be able to do much in the way of intra-day postings tomorrow, but it should be just a one-day thing. I will give you my outline for the day pre-market after we get all the economic data.
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Dwight,
ReplyDeleteI can not believe how much more I knew about what was happening int he market this quarter end, which can be attributed to reading your blog. I only started reading your blog last week!!!
You'll be missed on VC today. I was looking forward to my fist VC session during trading hours with you.
Have a good day.
Dorothy
Dorothy: I'm glad this has helped. Welcome to the group.
ReplyDeleteDwight,
ReplyDeleteDorothy is right. You are my first read every morning. Your understanding of the market and reaction by the news has really kept me inthe game and taught me not to "think" but to listen and read what the charts give!!
Thank you for all you do for us!
Diane