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MysteryTrader's Commentaries

Sep 20 2006

selling stock indexes short on price strength

by MysteryTrader
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The Federal Reserve left the fed funds rate unchanged at 5.25%, as generally expected. The accompanying policy directive said moderation in economic growth appears to be continuing, partly reflecting a soft housing market. The market got what it expected. This news was very widely anticipated.

The market does not usually discount the same news twice, both before and after the actual announcement. Therefore, I am selling stock indexes short on price strength now.



Tags: economic-events
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