I had my ES SHORT side "bracket" hit for a news trade and made three points..........took longer than usual but that is how they go some days.
Enveloped from 1338 start. Bought at 1336, sold at 1377.75 (sold extra), covered back at 1335. Pretty standard Fed meeting play. Don
After my SHORT news bracket trade, I had a pretty good SHORT re-entry signal that I took for the ES as the buying could not get the bar "deltas" to swing strong positive......... http://www.charthub.com/images/2006/09/20/ES_317_VB.png I finally covered my runners and went LONG to wrap my day up....out and flat now...... http://www.charthub.com/images/2006/09/20/ES_317_VB_2.png
Who says the Fed is going to cut? The Fed statement says they are more likely to raise than to cut. Is the market setting itself for disappointment again?
What did they say......LOL......I have not even heard the announcement yet. When I bracket the news I usually have the TV on, but today I had the volume down for some reason as I was listening to someone talk in a chatroom.
NEW YORK, Sept 20 (Reuters) - The Federal Reserve left interest rates steady at 5.25 percent on Wednesday. The accompanying policy statement acknowledged inflation risks but reiterated the expectation that price growth should moderate as economic growth eases. The following is a summary of recent comments by Federal Reserve policy-makers, including the Sept. 20 meeting policy statement: * Denotes voting member of the FOMC in 2006. * FEDERAL OPEN MARKET COMMITTEE, SEPT 20, 2006 "The Federal Open Market Committee decided today to keep its target for the federal funds rate at 5-1/4 percent. The moderation in economic growth appears to be continuing, partly reflecting a cooling of the housing market. Readings on core inflation have been elevated, and the high levels of resource utilization and of the prices of energy and other commodities have the potential to sustain inflation pressures. However, inflation pressures seem likely to moderate over time, reflecting reduced impetus from energy prices, contained inflation expectations, and the cumulative effects of monetary policy actions and other factors restraining aggregate demand. Nonetheless, the Committee judges that some inflation risks remain. The extent and timing of any additional firming that may be needed to address these risks will depend on the evolution of the outlook for both inflation and economic growth, as implied by incoming information.