Ok, Well 103K is better than zero. For this economy to get going it needs to be generating 300K a month. I am not holding my breath.
The stock indexes like it. 11,169 is current high. I am short at 1120. That’s the trend line.
Have a buy stop in front of this short, in case we run higher.
Try as I may, I can’t get excited about the market running above 11220. If this short at 11,120 gets filled, I’d be inclined to stand aside and wait for a better risk/reward play.
I am starting to think that corn and beans are going to fall out of bed just like 2008.
Everyone I know in the trade, myself included, has been trying to step in and buy this break. A 2 dollar break in corn and a 3 dollar break in beans suggest that we are over sold.
Next Wednesday October 12 is the USDA report. Its’ over sold. But I’m starting to think it might be able to get even more oversold.
CER