Is The Fed Less Relevant

There was very little movement in the market following the FOMC statement. Even though there was little doubt as to the outcome, this is highly unusual. Does this mean people view the Fed as less relevant?

My sell order has been in since before the FOMC statement but thus far it looks like I won't get filled.

5 comments:

Anonymous said...

Tsachy, would you still stay short here ?
It seems there's a pretty strong support at 1110.
Thanks.

Tsachy Mishal said...

I want to see how the market handles the Citigroup offering tomorrow. So yes, I am staying short. I am actually considering biting the bullet and adding to my shorts right here.

Anonymous said...

Join the club. I went short on the way down after that extremely weak attempt at a rally after the release.

Could get screwed by a gap open higher tomorrow but I see this as a low probability risk. I think we will sell off into the close and open even lower tomorrow.

JD

Tsachy Mishal said...

Im with you but Im having a hard time biting the bullet.

Tsachy Mishal said...

I already have a decent size short position so im not all that upset.