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Stewart:
I absolutely agree with you. I seldom enter a trade into the unemployment
report. IF I have a position on, it's because I have a long-term view and I have
some profit in it, enough to cover most of the skid I would expect from the
conditions on a 'market shock' from the report. Since it comes at the beginning
of my trading month, I usually am flat. I *like* 'earning' my way to more
agressive trading each month--meaning, as I find my legs each month, I'll feel
more comfortable and be more in tune with conditions. So starting the month with
a crap shoot on the employment report is not for me.
After the report is out, I usually have my opinions and I'll work my way into
positions as I feel confident about the markets. But I'm not in a hurry. Many
first weeks of the month end with me flat and waiting for a trade entry.
Best,
Tim Morge
Stewart Taylor wrote:
>
> I think some of you guys ought to pay attention to what Tim is trying to
> tell you in terms of vol. Personally, I prefer the nice medium vol days
> and try to stay away from markets that are going to give me a bunch of
> slippage and potential whipsaws.. it's not very sexy, it's slow and
> plodding, but it works for me. FOR INSTANCE: I trade the bonds and I very
> seldom trade on the day of the employment report. I have to see something
> that just really grabs me hard to force me into the market. I use that day
> to catch up on research and such.
>
> Keep this kind of thing coming Tim... good post.
> Stewart Taylor
> Taylor Fixed Income Outlook
> Voice: 501-219-9774
> Fax: 501-228-0963
> E-Mail: staylor@xxxxxxx
> Web Site: http://www.cei.net/~staylor/
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