Very subdued today. Market's holding its breath. I think the Fed will move in a very gingerly fashion. Move will be conservatively supportive. .25 cut, no tough statements. Could be quiet for a while. We don't really know Bernanke yet though. He may shock us.
I am betting on a collapse. Just long vix calls right now and short puts on stv (puts will get closed in the am). I would like a sharp correction in world indices in order to snatch up some bargains. This market has peaked and is very unhealthy. I do believe the only thing holding us up right now is china, india and brazil. I think we shall lead this collapse. With a cut of 25 basis the markets should sell. 50, they will unfortunatley move higher. We shall see what happens tommorrow. p
Interesting. Under normal circumstances I would expect a complete inflate of the VIX after the numbers, but you could be right; VIX is still reasonably low and it seems there are a lot of ppl expecting the expected (no typo). Good luck.