Economists were expecting 180,000 were added in February. The jobs report only showed a gain of 20,000. This caused a knee-jerk reaction that sold the markets off. The DOW was down more than 200 points after the open but has stabilized and recovered most of that back just 1 hour into trading. Wall Street is looking at this data point as an anamoly and nothing to fear just yet. If we get another disappointment next month, that will definitely change sentiment
Our positions are within limits, given how the market has traded the past 2 weeks and having one more week until expiration. We've been selling off this week and are in oversold territory. A bounce is bound to happen and would benefit our positions greatly. Have a great weekend!
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