Wednesday, November 3, 2010

Fed leaves fed funds target at 0.00-0.25%, Expands asset purchases by $600 bln

Expect market to climb... Not entering a trade yet though
Posted by Verde at 2:18 PM

3 comments:

  1. VerdeNovember 3, 2010 at 2:33 PM

    Perhaps the fed announced $600 billion in an attempt to beat estimates in a futile attempt to send the market higher. Fed announced it would inject that $600 Billion in $75 billion / month. Well, we sure have the volatility we expected, hard to play the game though... That is why I am waiting to see how it shakes out

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  2. VerdeNovember 3, 2010 at 3:37 PM

    We need to see the ES break down below 1190 to see a continuation down. I was waiting for a pierce of the highs to enter a short. We didn't get it. If we get it now, it won't be as tempting to take... Will consider a short if ES trades back up to 1195

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  3. VerdeNovember 3, 2010 at 4:09 PM

    I'm flat, no trade yet... very bullish close, we'll see how the evening session trades

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