Protection

[Vanraw]

The 10/6 and 10/7 jobs data is going to have a huge impact on the market, in my opinion. If the number is god the momentum traders are going to have 2 monster days. If the number I'd bad, we could see the market dip to 9kish.

I trying to figure out how to play both sides for a win. I'm thinking of buying both TZA and TNA at the end of the trading day, and putting in traiking stops of like $1 on both. Then if the market goes either way, the down stock will sell, and the up will climb......

The data might not say anything, but it seems like the traders all sitting on needles.

Might look at options as well.

Stocks are hovering close to breakeven this morning, as Wall Street awaits a three-session onslaught of unemployment data. Already this morning, the folks at Challenger, Gray & Christmas said the number of planned layoffs at U.S. firms rose to the highest level since April 2009 last month. Specifically, employers announced 115,730 planned pink slips in September -- more than twice the total of August, and roughly three times that of September 2010. Elsewhere, investors are still bracing for the latest data from Automatic Data Processing (ADP), which should provide further clues ahead of Uncle Sam's highly anticipated nonfarm payrolls report, slated for release on Friday. Against this cautious backdrop -- and despite a rally in Europe -- futures are mixed, with the Dow Jones Industrial Average (DJIA) lingering about 15 points south of breakeven, and the broader S&P 500 Index (SPX) trading fractionally higher ahead of the bell.