When all is said and done, FOMC was a trip to crack dealer.
Heck a drop of 6% in Q1 GDP pretty much anywhere, was that REALLY the bottom?
FED basically said "Patient is weak and needs to be monitored but we believe that with printed money, he will recover" Maybe! is more adequate position...
AT EF, We are sticking to our guns and believe the bond market will fail ahead of the stock market. Luckily we are only short bonds at this point but we really think the market would be healthier IF the earnings multiple on stocks was more subdued. Instead it is yet again overly ambitious and can only cause pain and misery to many stock pickers. Would be best to play the averages if you insist on betting long this very long in the tooth equity rally.
MAY 1st is a holiday in parts of Europe. The french must be upset that it is on a Friday ... they prefer when it falls on a Wednesday so they can plan around successive other MAY holidays and take major portions of the month off...
FRIDAY MAY 1st IS worker day and GM day of more dole money... How fitting!
Good trading to you
DCW
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment