The ongoing current of statements from the spokesmodels and talking heads over the past week, as well as a number of market indicators I have learned to watch over the past thirty years or so had me thinking that we would see a terrible jobs number this morning, and a fantastic reversal and rally in equities and the metals. And I structured my trading positions accordingly, with a hedge for uncertainty.

And this morning when I heard the monster overshoot in the Jobs number I thought, 'oh no, I was wrong'. Thank God for the hedge, but I wish it was larger.

But little did I know. I'm glad I did nothing as the little set piece we call the 'free markets' played out. Am I getting more patiently wily or just lazy? Oh me of little faith. 

And so the Dollar this morning rocketed higher, and then dropped precipitously and ended slightly lower into the close.

Stocks did the opposite, with a monster rally crushing the shorts and hedges.

The VIX fell sharply after spiking higher.

Wash-rinse-repeat.

Have a pleasant weekend.

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