I didn't trade FOMC, which was good because I think I would be pretty emotionally volatile right now if I did. Look at GBP/JPY!
But I am thinking about potentially contradicting myself and saving the stop-moving for later.
Isn't the Fed basically saying that it feels OK with the current risk rally? This is a major market confidence booster. Whether the rally will continue depends on how many people buy the sizzle.
I've got a few partial positions I can take profit on, but what if the market bottom's for real?
Then, I'd be hating myself for the rest of my life if we go back to pre-Lehman style market hysteria.
Having said that, I am going to be more brutal with a few of the safe-haven-type positions I have in my portfolio. And I'm really praying that ABK will be able to weather the storm.
I know praying does not help when you're in a really bad trade. So don't try it at home.
Could NYX, C, and BAC turn out to be blessings in disguise for my portfolio?
If things line up, I'll probably be looking at a short gold play. My theory so far has been once the economic recovery is for certain, people who have rushed into gold will sell and move their assets back to higher yielding asset classes, which in this case would probably be equities.
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