Market data for payrolls and unemployment rate tomorrow which can move the market a lot one way or the other. We are at pretty significant levels for bond yields and the dollar which has been super strong. This can put pressure on equities if it persists. We may be in for a volatile period for the next week or two. No strong bias, just staying on my toes and looking for clean trends either direction that I can join.

Quantum names had a really clean unwind Wednesday. I didn’t take advantage unfortunately even tho I had a bearish bias and expected a big move down. There were very little retests and swipes back up which can be difficult for entries especially since I usually don’t like to enter a position right off the open because I don’t like wild swings and fast moves, I like to pick my spots before a big move and join that way. 

There is a lesson in the unwind tho. When positioning is max bullish and the news is very bad, you can get massive unwinds as the big players bail on the stock. I also think so many shorts have had issues with the quantum names that it wasn’t actually as short crowded as I would have expected. I think a lot of people were like me and waiting for a big swipe back and for it to be a difficult unwind. Good review for next time. If the quantum names continue to sell off tomorrow and Money I’ll be looking for a bounce when positioning gets piggishly bearish. But until then these pos companies likely keep struggling and fading.