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The title of the email he just sent out: "Perfection!!!"
Why?
Zervos's big trade that he's been pushing forever is "Spoos And Blues."
Long S&P futures, and long eurodollar futures.
And as we just explained, today's jobs report is perfect for that. The data is good enough for people to keep buying stocks, but not so good that the Fed will tighten anytime soon.
Says Zervos:
Spoos +9, Blues +7, it just doesn't get any better than that! The Fed has your back if it gets bad, and the Fed will be slow to react when it all goes right. The basic trade of long risk/long blues is the best representation of that view in the market - hands down.