The most ‘transparent’ Fed is cloaked in mystery, and playing an outcome with your money is tantamount to betting on a FSLR earnings report. You’re going to be very right or very wrong and it will happen fast.
The Fed heads have all had their fifteen minutes over the last few weeks and we’re still clueless about what these financial engineers have up their sleeves.
We do know though, that Janet ‘Aunt Bea’ Yellen coddles her market like a bratty kid and gives the market a participation trophy just for opening up everyday at 9:30. The last thing she wants to do is cause waves. Growth is tepid at best, there is no inflation and the jobs created still require you to wear a name tag or a hair net. Lets not forget those high quality pool raking jobs.
Have you noticed that the winds are blowing differently lately? Sure we’ve seen a 10% correction, but the action in the general market doesn’t tell the whole story. Why? Because so many individual stocks have actually corrected 30 & 40%. Ugly. Charts are broken and breadth still stinks.
We entered more shorts over the last couple of weeks. We continue to stay light on our feet and we have shown the ability to change direction when we need to. Its that kind of market.
Anyhoo, things can change on a dime around here, so good luck next week.
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