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Unemployment report showing no new jobs!

Market (SPY) gaped down at open and extended already bearish trend this morning. Although by the end of the day the market may rally back. It looks like the A,B,C correction has been completed and now we will be running down. QE3 is now more likely to happen, although that may be good for the market, but overall bad for economy (inflation).

This morning I may be trimming some of my bearish positions taking out the profit.

Happy trading!

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