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E-mini Executors: Unemployment Rally

Friday, June 5, 2009

Unemployment Rally


The numbers on unemployment are bad but they were better than expectations.  Thats how they start, by making bad numbers look good.  I have 956.50 as an area to hold this morning.  If they get above that I have 962.00.  I am looking to sell short in front of those prices.  To the downside, I have my moving averages all pointing up to get out of shorts and scalp to the long side.  I am not convinced that I should be buying breaks establishing positions.  I am looking to establish most of my positions to the short side unless we violate my upside resistance.  I am looking for the market to trade down to 936.00.  If 962.00 gets violated I believe that you should see a blow off rally to the upside with high volume.  This day will be high volatility so keep your stops a little wider.

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