Fed Minutes at 2pm, then Bernanke at 4:30pm. Oddly enough, I’m positioned bullish in 2 out of 3 positions, and neutral on 1.
The point is, it seems like Fedspeak is extremely short sighted lately, and based on market swings, and has less and less to nothing to do with their dual mandate.
The tension today is palpable… I’m going for a quick jog along the river… hot as it is, there is a nice breeze…
In other news, I also recieved an email for a ‘Food Processing’ position. Ability to speak English and read safety signs was their requirement. It was based up in Maine though.
We’ll have to bring in our no fap expert Drago to analyze how many concurrent days the beard has gone since his last fap. Then we can run a regression against sys to see how that will impact his decision.
DON’T FIGHT DA FED. Mkt up a full 1% pop.
how long is this going to be the mantra? i like how billy bob gross critized the beard for years about his loose policies but as soon as the scent of increased yields hit the street and outflows started to occur he lashed against the tightening verbiage. My 401k and PA are doing well due to this but I guess I just view it all as artificial.
Well, my hedges were getting too painful and I removed them, so it should all fall apart about now. (today’s 1% was nice, though)
I’m sitting in 50% cash, only in 3 longs… i thought june and july would be weaker so far and august would be a good time to buy, not so sure anymore. Current valuations seem like a poor deal for most stocks.
Actually I do have a lot allocated to cash right now.