Joy to you friends.
Come for the festival heyya?
Got a place to sleep it off yet?
Yes, we wait again for another Central Bank announcement in about 25 minutes or so. This time it’s the “ECB Red Hour”.
The European Central Bank (ECB) is expected to announce it’s own “QE” style program. I have read expectations as low as €100 billion. I have read expectations as high as €1,000,000,000,000 (that’s one trillion or 1012). The truth of the matter is we don’t know, and that is why the market is collectively holding it’s breath, because no one wants to be caught out of doors when that bell begins to gong …
That particular ‘mechanism’ of backing up, excitement and then the let’down is exactly what I’m banking on. My book is built to see the excitement and premium bleed away even three hours from now.
Pretty basic stuff. Buy the rumor, and sell the …
(Oh, and for you folks that noticed that the Comment section had some problems, we believe that it’s fixed at this point)