Bad Timing Ben
So I was watching the TV this morning when Helicopter Ben announced the rate cut. First off, considering all of the crash talk out there, I was not surprised. After about 10 minutes of letting it sink in, I realized what an lame move this was. I would have preferred a climactic sell-off and complete wash-out. The Fed could have kept their finger on the trigger and announced a 75 basis point cut if things got out of control.
Oh well, easy for me to say.
All this means is that I will short this market at the lower levels of confluence as we have many more weak hands than we would have had if a full capitulation took place.
No comments:
Post a Comment