Don’t Fight The FED
29th January 2008
How many times have you heard that one? Well this is going to be one time where that isn’t going to work. It’s time for everyone to lay their bets. I’m calling the Dow down 200 after the announcement tomorrow afternoon. As always, I will use a stop but I honestly do not see anymore upside to this market. We were extremely oversold and we have now worked that off. The Bond market was fairly quiet again but yields steadily rose throughout the day as equities firmed. The curve sloped slightly flatter. Let the fireworks begin!
- BA