Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Looking to Friday's Jobs Number

|Includes:ProShares UltraShort S&P 500 ETF (SDS), VIT
The market shrugged off weakness yesterday and saw a broad rally spurred by the ADP employment report, which showed the best jobs improvement numbers in three years. The one downside to yesterday's rally was volume. It may be that institutions are waiting to see if the ADP numbers will be confirmed by today's initial claims numbers and Friday's jobs report.

Nevertheless, it appears our SDS hedge will stop out as overseas markets are seeing follow through today and the S&P 500 closed above its two week trading range after bouncing off its 50-day average. Fortunately, we were able to enter the hedge with a good price and losses were pared by a good performance in VIT.

Disclosure: long sds and vit
Stocks: SDS, VIT