Bernanke's speech today ignited market expectations for more QE, when in reality it appears he was only trying to tell the market that tightening is not on the table (accommodative monetary policy until end of 2014, when the Fed Funds futures were pricing it in before the end of 2013). I'm always reluctant to move in front of a moving train, and I don't know how long the market is going to be in full-retard mode (where bad is good because it means more QE, and good is better because there won't be any monetary policy tightening anyways). I'll update this post if I think there's a short opportunity tonight.
Update: Well, I made what would have been a money-making trade, but unfortunately, I put on too tight a stop. I almost perfectly called the top, lol. Short HG @ 387.70, stopped at 390.25. Loss of 10.8%.
Update: Well, I made what would have been a money-making trade, but unfortunately, I put on too tight a stop. I almost perfectly called the top, lol. Short HG @ 387.70, stopped at 390.25. Loss of 10.8%.
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