Bear Market Tri-Fecta Tomorrow Morning

Tomorrow will be an interesting indicator of what this stock market is made of:  1) the employment report is expected to offer more bad news;  2) the ECB is expected to raise short-term interest rates;  and 3) tomorrow is the last day the oil market can reach $ 150 a barrel before the fourth of July.  The market is expecting all of this already, so what will it do ?

With the long holdiay weekend we may not see the total resolvement of these issues before July 9th when the next direction of the market should become obvious. 

I would add that since the end of the quarter the only changes we have made to our portfolio is add some short gold ETF’s and some more short oil ETF’s today.

2:03 PM CDT

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