One Option Trading Blog http://ift.tt/2aBklGt Posted 9:30 AM ET - For the last week I've been urging you to take profits on overnight long positions. The likelihood of an "ugly day" was high and we got one yesterday. The SPY breached key horizontal support at $215.75, but the damage was relatively contained. Stocks rebounded late in the day and the market could easily float back into its range. ADP was perfect this morning. In July 179,000 new jobs were created in the private sector. That is strong enough to suggest sluggish growth and soft enough to keep the Fed on the sidelines. Europe's economic numbers have …
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