All eyes on the unemployment number due out at 8:30 est this morning. The market sold off hard yesterday on the jobless claims number and euro credit concerns. The futures continue down this morning as Asian and European markets sell off.
Adjust you trades sooner than normal on the downside . If we get a further sell off today your price and volatility risks will work quickly against you and the position will deteriorate much quicker than in an up move. We have came down sharp and the vols have spiked so a near term reprieve may also be in the cards. I wouldn’t be surprised to see what happens early in today’s trading to reverse later on in the session. Act quickly and everyone have a nice super bowl Sunday.
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great call on the intraday reversal! And the comments on the vix … seems like the vix topped fri when the SPX bottom..
thanks!