Pre Market - August 30th 2007

Unemployment data came in and it is showing a continued decline in the employment situation. This figure would be bullish for those counting on the FOMC to do a rate cut. The GDP number came in and it was "as expected" with no major surprises, this is bearish for those wanting a rate cut.

So the market remains very confused this morning. Futures are down, The Yen is up again, The 10 year T-Note yield is heading in the direction of "flight to safety" again. So what to do?

Now you can see why we are not providing daily swing trades. It is pointless to be trying to swing trade in this mess. As Lisa said last night the "smart money" is also unsure of what to do. Lisa makes a very good point and that is the smart money moves our markets, if they don't know what direction to move it then how are we to profit on a daily basis when they themselves are being carried off the playing field on stretchers.

Never be to anxious to jump into the market. You are NOT missing out on big profits.. What you are missing is the anxiety, emotion, and hair pulling market which is taking out the best of them. Yesterday the markets went up big on the thought that the Feds would cut based on a letter that Ben Bernanke issued. And in that letter traders read between the lines and saw a rate cut coming. Now this morning there is mixed signals (again) as to will they or won't day. So we have a market that is set to open lower at this moment.

Again, this is why we are not advising our readers to be swing trading right now. The risk is higher than the reward. The risk of substantial losses outweighs the risk of making consistent money. Remember that people who have been trying to get into the pits (the market) and trying to trade are getting hit, bumped, slammed, whipsawed, and downright beaten up. And as on the football field the medics are having to keep rushing onto the field to pull out another player who lost. Don't be the next victim to be carried out on a stretcher, have patience.