Non-Farm Friday – Is America Working?

Sorry, but this “rally” is just too much BS for me.  

As you can see from Dave Fry’s SPY chart, we’re running up on ZERO volume in the Futures and then we sell off all day on very low volume (because there are no buyers and the Funds are exiting slowly) and then we have dip at the finish as the ETFs that HAVE to buy at MOC (Market on Close)pricing get shares jammed down their throats by the pumpers.  

[Chart by Dave Fry]

It’s a complete and utter farce and completely ignored by the MSM, especially the Financial Media, who just play along as if none of this matters.  While you may consider the manipulation of currency and metals markets to be news (both are under international investigation at the moment) – it doesn’t rate a mention in the Financial Media, who’s advertising revenue comes mainly from the companies that are being investigated for fraud and manipulation.  

April Fools! The above is what I wrote along with the chart on March 7th in “Non-Farm Friday – America Still Not Working.” That was 3 days ago, we’ve come a long way since then because, THIS TIME, we have SPY at 188.63 coming into Non-Farm Payrolls, so take THAT 188.10 – IN YOUR FACE!  

[Chart by Dave Fry]

Despite the month-long flatline, the bullish trade idea we had back on 3/7 was a big winner.  Our trade idea in that mornings post (which you can get delivered to your mailbox, pre-market by subscribing here) was:

10 UDOW April $105/110 bull call spreads at $3.50 ($3,500), selling 10 DIA April $159 puts for $1.30 ($1,300) for net $2.20 ($2,200).  

UDOW is an ultra-ling ETF on the Dow and is now at $113 and that spread is 100% in the money, on track for $5 ($5,000) while DIA is at $165.50, on track for $0 so net $5,000 will be up 127% if we close here at April expirations.  Of course, we were also skeptical and our more aggressive short plays (also right there in the morning post) were shorting Oil Futures (/CL) wat $102.50 and shorting Russell Futures (/TF) at 1,212.