Non-Farm Payrolls tomorrow. The market is expecting 163K jobs added on the headline. It is hard to tell how they will spin a big miss or a number on the high side. I am looking for a potential head fake in the futures, maybe a typical 'three step' before they settle on something for the morning. As for the afternoon, who can say?
The equity market has ended positive on 14 of the last 15 Non-Farm Payroll Reports.
I picked up a little volatility just on the if come. But actually shorting this market looks like a long shot, even if you call it a contrarian move, primarily based on monetary expansion.
If you have not noticed, being a bear in an asset bubble backed by the Fed put is not a constructive profession. I have paid for a graduate degree in that subject. Being servants to power, their hypocrisy knows no bounds.
My real play is now in precious metals for the intermediate and long term as you may have gathered. It gives me something to do while watching the currency war unfold.
Have a pleasant evening.
