It's interesting the Fed called this Monday meeting having known the job numbers, having just had a very poor showing for Treasuries at auction and on a day when half the world's markets will be closed as in much of the rest of the world, Easter is a two-day event running into Monday and on a day that is sure to have light volume here in the Us with extended holiday weekends.
I wonder what they have to say? The last time they did this they hiked the rate on the discount window. In any case, something is not passing the smell test. I'm going to urge caution for Monday, take a look at the recent lists, there are a lot of good ideas on there such as MOT short and some longs if you are so inclined to trade, but I'm going to see how this plays out.
Technical Analysis is about putting the odds in your favor, it's like the difference between a gambler and a card counter. With such uncertainty-not to mention the market's reaction to the Friday jobs report- it's difficult to put any odds in your favor. Monday trading is more akin to gambling so hand tight. I'll deliver you up lots of ideas once we see where this is going.
And Happy Easter...
5 years ago
