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ES Journal Archive (2011)
- Thread starter Buy1Sell2
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Quote from joneog:
FOMC @ 2:15 est.
Be careful, the fed has made it clear they want higher stock prices so I wouldn't rule out some new language intended to pop the market. Whether it works or not is another story.
I agree 100%, no one wants a bear market at this point unless QE3 is on the table now and in the future to push the market back long or some other language.
I am going to go flat and await fed.
Be back for fed.
Quote from joneog:
FOMC @ 2:15 est.
Be careful, the fed has made it clear they want higher stock prices so I wouldn't rule out some new language intended to pop the market. Whether it works or not is another story.
Yeah sometimes it pops the market and then the market thinks about it, becomes scared and drops. Sometimes the market goes up and stays up. I agree with "be careful."
I think every trade is a calculated risk. It has found some resistance but I know that FOMC can create a volatile environment. I am still short but unless it pulls away from my stop by about 6-8 more pts I will get out before the news.
It keeps tagging the low of previous bars to the tick. If it breaks the 34 number it could fall quite a bit. Still short 47.50.
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