End Of The Line
We are but a handle or two away from what I consider the end of the line for the bears. I haven’t seen any hiccups in the equities futures overnight and although we do have an NFP report in less than an hour the path ahead seems to be cleared to trigger the final short squeeze.
As you know I’m holding a fistful of lottery tickets to the downside (OTM SPY puts) but I expect to lose them and am already long the E-Mini with a stop below 2050.
So we got the NFP for January at 8:30am EST followed by the unemployment rate – probably good for a few swings. If I get kicked out of my longs and it pushes back higher I intend to retake them (assuming a decent fill).
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See you later this afternoon – stay nimble and keep it frosty.