Nothing is ignored, nor am I saying we won't trade lower on the daily. I'm merely observing that your stop is at a key technical level which is likely to get hit on this leg up. If you want to use a 30 point stop, you might as well use a 40 point stop on this one.
Added 10x size 2856.5 Stop 2900 Objective is 2800 and 2745 Will roll over to next contract if needed Will also be selling more SPY June calls
Price is truth. She will not lie to you. You may be the type who thinks she lies, because you only hear what you want to hear. But price is truth. She is also a lady, so at times she will surprise. But she is fair, and she will give you clues that she is about to surprise so that you may be spared the pain of needless loss. If you do get hurt, it is your own damn fault for believing in your truth rather than hers. For price is the truth. But hey, anything can happen, so good luck to y'all!
Markets will cheer this weak jobs report.....why...because the FOMC will lower rates. Bad news is good news. Just wait and listen. Every media outlet will spin this.
I didn't want to say anymore about your short but this almost seems like you are trolling us lol ... you 10x'd your short heading into the monthly NFP number? And instead of hedging a position already 15 to 20 points under water position by buying SPY calls you're going to be selling them? There is nothing about this that seems right. You can't even argue this is a "scale in" entry. This is a hail Mary post. I can't imagine B1 would approve of adding to an already losing position. Especially "10X"ing it. I would hope this isn't how most ET'ers trade. But good luck with it!
Technically, the bullish scenario (in my opinion) would be a sell off after the number into the RTH open that is reversed with yet another high close.
Yep the tide has turned, all it took was the FOMC telling the markets, we will use QE like never before. Now bad news is good news. The down turn is over. Go long make free money.