Slow is the word for today. Very little action took place and that left very little opportunity. For a trader, I need big action to make my money. And when we don't get that action it's a little tough in the S&P's. But don't worry the action is most likely coming tomorrow.
From what I can tell, most traders are looking for a weak number on the Unemployment Report. There are really two ways to look at that situation:
1) A weak economic number will tell people that the Fed should keep lowering interest rates.
2) A strong jobs report will tell people that the economy is in good shape.
So think about it, both results will make the market go up. And that's what I'm looking for. I'm not always right, but I've been around the trading game for a little while!
Real Time Trading Signals*for
Trade Date: 10/04/07
(before fees and commissions):
(before fees and commissions):
1) Sell @ 8:37am at 833.3 = +.5, +.7, +4.0
2) Sell @ 9:10am at 831.5 = +.3 & -.7
3) Sell @ 9:20am at 831.7 = +.4 (1 lot)
4) Sell @ 9:30am at 831.4 = -.2 & -1.0
5) Buy @ 9:40am at 831.7 = +1.0 & +2.0
6) Buy @ 9:59am at 834.5 = +.5 & b/e
7) Buy @ 11:11am at 832.5 = +.5, +1.0, +2.0
8) Buy @ 11:41am at 834.1 = b/e (1 lot)
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