The Financial Media … in their incessant need to sensationalize any economic policy … has led the world in ‘cheerleading’ this weeks Fed decision regarding interest rates.
I find it nauseating, and quite stupid.
But hey … here we are.
The result of their cheerleading is pretty predictable. The stock market, in essence … has not moved for the last 5 days.
I still think that the best bet at the moment for any new trader, is cash as a position. Once the decision is released, we’ll naturally see the market lose it’s mind temporarily. My own personal short-term trading accounts have a correlation position on, that is … well … pretty tight. A win-win scenario, whichever way we break out. But I still think that for new traders, the best position at the moment is cash.
I was talking with a group of traders the other day, and the subject of Golf came up. My reaction and thought was immediate …
I might as well swing some clubs while we still have the weather for it. Because this market sure isn’t going anywhere until Thursday.