A Rate Hike It Is
A Rate Hike It Is
So the Fed decided to announce its third rate increase this year, which effectively hikes the short-term interest rate to a range of 2 to 2.25 percent. The general consensus on the street now is Powell and pals may soon take a back seat for the first time since the 2008 financial crisis and allow the economy to steer itself. All in all, extremely positive – except for my E-Mini campaign.
Oh well, you win some and you lose some. Of course the name of the game is to win a bit more than you lose, and if possible consistently.
Speaking of which, our crude campaign is looking good and I knew we were sitting on a winner here as soon as Trump started to bitch about high oil prices in front of the U.N. I despise political drama and brinksmanship unless of course it offers me an edge and thus lines my pockets 😉
Not surprisingly the Dollar is lining up for a break out pattern. IF it succeeds we should be in good shape, but I’m not going to count my chickens before they hatch. But it’s fair to advance our stop on the DX to break/even.
I mentioned bond futures yesterday and suggested a long position on a breach of 140’20. Which for me already happened but it’s currently descending for a retest and if you snoozed yesterday then here’s your 2nd chance.
Another juicy entry below the fold for my intrepid subs:
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