closed. another +5 in the bag Limit in to long again at 1235, although i dont expect it to get hit. It should just continue going up, but fomc is one of them rare occurances that has the potential (although unlikely) to put a spanner in the works for me
seems almost too obvious that we''ll get some upside/spiking up. im flat for now though and will likely be kicking myself in 10 mins time!
For FOMC, flat is where it's at. Price can whipsaw 20+ pts, and getting filled for entry / exit is next to impossible.
Normally what you'd see is a withdrawal of liquidity immediately before the release that produces spikes in <i>both</i> directions. Then it can go up or down, depending on the match/mismatch between what was expected to be in the text and what actually is. However, there is little room for surprises today, so it may turn out to be a non-event. This guy usually publishes a comparison a couple of minutes after its publication: http://marketrewind.blogspot.com/ Here's an example: http://1.bp.blogspot.com/_DGwK-zM3i_w/S9h7zPOinKI/AAAAAAAAAxw/AvGYewaH3iM/s1600/aprilfomc.png Edit: Damn, it seems they've changed the link: http://etfprophet.com/december-2010-fomc-statement-comparison/ It's virtually the same statement as the previous one.
I'm think of shorting the spike - not going long here. That is IF it spikes and fails at 1246 then shorting with a target of 1236