Paul Mendelsohn Traders Quotations

Most traders will really be positioning for the October employment report. Economists are expecting that non-farm payrolls rose by approximately 50,000 during the month, providing evidence that with two straight months of employment growth, the jobs picture is finally turning around.

This is a very difficult market to figure out. I think you have a lot of buying under the surface, but professional traders are hedging themselves and that's causing this lack of volatility.

It's interesting to see gold prices so high, it is certainly something traders will be paying some attention to.