The Dow and S&P 500 fell again in early trading Friday after a mixed jobs report kept a Fed rate hike for this month on the table—U.S. unemployment hit a seven year low, but job creation fell short of expectations at 173,000 in August versus the 220,000 estimate.
With less than two weeks until the Fed meeting, one trader is positioning his portfolio for further volatility in the stock market.
"I think the trend here is down," Todd Gordon said Thursday on CNBC's "Trading Nation." Stocks have been bouncing in and out of positive territory since its initial selloff last week. "You don't want to be long here because we I think we are going to [continue] to roll over."