Thursday, February 18, 2010

Fool on the [capitol] hill



"Head in a cloud ... The fool on the hill, sees the sun going down ... a thousand voices talking perfectly loud. But nobody ever hears him, or the sound he appears to make ... And the eyes in his head, see the world spinning 'round ...ooh, round and round and round."

The Beatles


SO, FED raised discount rate .25 – they did say they will be taking crack pipe away, did not they?

"It's not so much that they didn't telegraph this was coming, we just didn't think it would be instituted quite this soon," said Mark Luschini, chief investment strategist at Janney Montgomery Scott.

He predicted the market would react similarly to last year's sell-off after the Fed hinted it was exploring tools to implement its exit strategy. "This is going to make more tangible to the marketplace the fact that the Federal Reserve, while talking about maintaining an extended policy of very accommodative conditions, is at least indicating to the market every acknowledgment this is coming," he said.

OkeyDokey – that is as much as I am willing to talk about “news” 9thou I am very pleased with our gang’s “out of nowhere” short positioning into the close – well done chops, well done indeed!


$EURUSD 60 min chart




$SPX 60 min chart – possible target 980 by March

2010-02-18_2157 P.S. I plan on doing more quick intraday videos, I will be posting availability on Disqus / Twitter so subscribe if you are interested.


$USD, /DX quickie


Economic Calendar for Feb19th

William Dudley Speaks
8:00 AM ET

Consumer Price Index
8:30 AM ET

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