Morning Commentary Wednesday February 3, 2010

Jobs Jobs Jobs

We hear it all day from lousy campaign commercials.  Now we are going to hear it all week from our economic reporters.  This morning the number of planned layoffs was announced higher for the first time in months and the ADP report came in somewhat line if not a touch better at minus 22 thousand jobs.

This is driving futures no where.

We have seen this week the markets quickly snap back.  I  expecting the speed of the market place to slow down significantly over the next few days.  At the same time I think IV’s could come in a little bit more.  I am looking at a very short term butterfly or iron condor.  I believe that there is still opportunity to get in on high probability condors and that they still seem more desirable than last month (although less desirable than last week).

Tagged as: jobs, Morning Commentary