Just curious if anyone here is trading Wednesday... I have a window of about two hours where I won't touch a trade. From Noon to 1:30PM... If Bernanke doesn't hint at some kind of QE this market is going to eat it... He better word things carefully!!! I don't trade around the big news events like these because the 10-20 handle whipsaws in both directions make me dizzy. Give it an hour to re-establish a normal trading pattern I say. No reason to trade during news events like these. Missing big moves? Who cares! You can make more money levering up a little more on proper trade setups than walking into 10 handle double directional whipsaw events. Ha...
I have traded on Fed days before, and though I have never tried bungee jumping, it must be very similar. A steep drop, followed by a large bounce, then another drop, and maybe another bounce. One can only hope they chose the right length bungee for the ride...I have chosen wrong more often than not.