Once again, in the milliseconds after the monthly jobs report hit the wires, algos proved themselves unreliable to stating a correct direction.
After the ridiculous run-up in prices that’s been happening all freakin’ week, it’s nice to see the ES has stalled out. I guess excitement over a deadly viral pandemic can only take you so far.
I remain bullish on precious metals miners and gold itself…….
…….as well as bonds……..
I came into the day quite aggressively positioned, with 48 shorts, 2 longs (GLD, TLT) and 217% commitment. The extraordinary strength in the jobs market was a powerful story when stocks were relatively cheap, but it seems to be having a dampening effect now.