Will it Matter?

by Larry Levin


Wow, today the market had a thought or two and they went something like this - "Are there REALLY a few countries that are on the verge of sovereign default?" and "I wonder if the unemployment rate is accurate?"

Umm, yes and no.

Yes, several foreign countries are on the verge of sovereign defaults and the New York money managers have decided to ignore it - until today. There are more potential defaults than the PIIGS, but the PIIGS are the most worrisome; Portugal, Italy, Ireland, Greece, and Spain. Of course the unemployment rate is a mirage and again the New York money managers have decided to ignore it - until today. I wonder - did they all read my email from yesterday and it scared the crapola out of them?

Both of these things "suddenly" caused a selloff, which was a surprise to many...except us.

The big annual job-loss revision as well as the monthly jobs data come out Friday morning before the open and may cause more fireworks. Be prepared.




Previous Day's Trading Room Results:

Trade Date: 2/4/10

E-Mini S&P Trades*
(before fees and commissions):

1) No "Secrets" trades today.

2) Algorithm positions (9)

3) "Reading the Tape" positions (15) ...combined Secret's, Algo, & "Reading the Tape" total...+16.50



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