Job report hammers market…or not?

Posted on May 04, 2012 by in Letters

First of all let's get it straight.  The job report didn't hammer the market today.  Big traders who have been harvesting the market saw the opportunity and hammered the market.    We tried to dodge the cobra by hedging our QQQ and SPX positions.  Just in case it wasn't obvious the sell strength, buy weakness cobras are still in control.  Squeak.

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