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I’m in no mood to be a hero against Janet “anti-Christ” Yellen this week, so I’ve lightened up considerably, having gone from 70 positions to a mere 45 and a 150% commitment (vis a vis my buying power) to 100%. I want the little three-foot beast to get out of the way before I try to do anything cute with the market. I’m laying relatively low until Wednesday blows over.
Welcome to Central Banker week, everyone. This is one of the big ones, with both our own Fed and Japan both having big announcements. I suspect in both cases there will be a long-winded, “nothing”, but that doesn’t mean the entire world won’t be on the edge of its collective seat.
As for this early morning, as I type this both the ES and NQ are up double digits, and the only news I can really see that’s happened since the market closed is multiple terrorist bombs in New York and New Jersey (the first of which was apparently planted by a Afghan-born terrorist and injured 29 citizens). So in our insane world, once again multiple acts of terrorism seem to be just peachy as far as the bulls are concerned.
