100,000-115,000 is the expected job number tomorrow..

Quote from thehangingman:

I figured it out. All those hedge funds that were long oil, were also short nasdaq stocks. Oil tanked and they had to get liquid to meet margin. Covered their shorts in techland.

It wasnt a rotation into tech, I think it was a short covering rally.
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cramer is bullish on tech, he said to buy tech, he recommended DELL....hmmm
 
Quote from thehangingman:

I figured it out. All those hedge funds that were long oil, were also short nasdaq stocks. Oil tanked and they had to get liquid to meet margin. Covered their shorts in techland.

It wasnt a rotation into tech, I think it was a short covering rally.
More...
You may have a very good point on this thought.....makes sense from what the action was today.

I SHORT'd the ES at 1431.00 today off a market profile level (1430.75) near the end of day, as the delta gave me a strong "shift" signal..............

http://www.charthub.com/images/2007/01/04/ES_317_VB_8.png

You can see here this type of move is typically of a SHORT covering rally versus a bullish run...........

http://www.charthub.com/images/2007/01/04/ESTradeChart_2.png
 
WOW.....overnight session has been "bombs away"....I am now flat all ES runners at 1421.00 waiting for the jobs report.

1416.50 level for the ES is HUGE MP Level.......this is a major over/under level for today imo.....so keep a watch.
 
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