Today may be a bittersweet day for the markets as a very positive nonfarm payrolls report showed an increase of 203k jobs compared to an expected 180k, but the good news leads to a higher likelihood of a taper (or in the very least a change in “tone” of fed statements) of the QE program, or as traders lovingly call it “POMO.”
S&P futures are up 1% premarket and it will be curious to see if we continue to gain or we encounter a “buy the rumor, sell the news” type situation.
WLT Entry: 13.86 Current: 15.66
BTU Entry: 19.03 Current: 19.45
WLT Entry: 15.74 Current: 16.00