Tuesday, October 24, 2006
Fed Day Tomorrow
The SPX finished literally unchanged at 1377.38 up 0.36. The Dow continued its rise upwards.
There seemed to be some nervousness in the Markets today ahead of the Fed statement tomorrow despite the fact no rate change is expected. However, with stocks seeing such large gains the past several months, any words that move the risks to inflation could create profit taking and send the markets down.
The FOMC statement will be released Wednesday around 2:15 p.m. EST and I will be watching what is said closely.
Once the Fed decision has been announced I will be looking at our second play for the month. I have not yet decided whether it will be on the RUT or NDX but will of course let you know.
Until next time.
There seemed to be some nervousness in the Markets today ahead of the Fed statement tomorrow despite the fact no rate change is expected. However, with stocks seeing such large gains the past several months, any words that move the risks to inflation could create profit taking and send the markets down.
The FOMC statement will be released Wednesday around 2:15 p.m. EST and I will be watching what is said closely.
Once the Fed decision has been announced I will be looking at our second play for the month. I have not yet decided whether it will be on the RUT or NDX but will of course let you know.
Until next time.
# posted by Paul @ 6:13 PM 
