Fed downgraded GDP for the current year, mentioned things like "half a decade for employment to return to normal" and still the market took it positive. Stay out of the way and let this silly behavior burn itself out OR go long for a while and use extremely tight stops. Just be ready to get in when stuff turns sour, as it will no doubt do eventually.
Half a decade? Usually the feds engage in obfuscation to make things look better, not worse. Which sounds better? 5 years, or half a decade?
I guess they wanna play straight. If they said 5 years instead, we could have seen dow 10000 in a week.
Yeah, it's hard to ignore the chatter about how financials are a smaller part of all the indexes now. But like it or not, financials are the news leaders and in everyone's minds. So when FAS made LH,LL and I was trading the ES, I woulda been short biased. As it turns out, it DID break that way.