Wednesday, December 16, 2009

Time Cover Jinx

I should have known.  Bernanke on the cover of Time meant that we'd probably selloff all day after the FOMC announcement.  The peak of central banking.   It was too easy, and I didn't even bother to think about it till now.

P.S. - We have the Citi pricing tonight.  It is hard to imagine that we'll have another gap up tomorrow.  The market is stalling out here.

2 comments:

Anonymous said...

Don't tell me you got out of your shorts.
It seemed that you were intent on playing the range.
So you think we gap down tomorrow ?

PS
The pic at the Banana Ben post was brilliant. I really needed that laugh. Thanks !

Market Owl said...

I covered right after the announcement, didn't feel the conviction due to the lackluster action. Odds are that we will gap down tomorrow, weakening during European hours. I may initiate a short at the European open.