Sometimes football coaches shut down their players for a championship game or a Super Bowl. Meaning no media. Play the game and just focus. No Twitter or FB, no nonsense, just concentrate on the task at hand.
Right now the Fed heads love to talk as we approach September and a potential rate hike of a whopping 25 basis points. Aunt Bea Yellen should shut them the hell up. Its the only time these clowns get out of the house and they love to opine.
Yesterday the Fed’s Lockhart said we need a rate hike, the time is ripe. His words. The market dropped.
Today another jaw-boner said we’re still data dependent and the futures lift. They have been doing this to us for years and I’m still amazed how the market knee jerks each and every time.
These clowns are all glorified politicians and we don’t list to their verbal diarrhea, so you shouldn’t get paralysis from these guys.
The market always has moving parts. We are at a weird juncture now and I really can see a couple of outcomes. Breadth continues to be miserable , but there is still great action in individual stocks. I’m OK with that if that’s all they give us until year end.
We haven’t had a good correction since the Age of Pericles, so that is always possible.
Truth be told, I’m seeing some amazing short set ups, probably more than juicy long setups right now, but that can change.
Good trading.
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