FOR THURSDAY: (8/4) While we got into a number of positions on Wednesday, it was more for positioning for the bigger picture. Bounces are all bigger than we like and that leaves us vulnerable and having to position trade through chaos on Friday with big stops. We’re going to retreat as much as we can and see what develops. Trading the week of employment report is always a congestive mess but some of the breaks are more than they should be, like silver and crude, and suggests that something is wrong. Big energy point for everything still into Sunday night.
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