Chicken A La Carte

As anticipated the Fed once again chickens out and in place of a long overdue rate hike is deploying copious amounts of its trademark jawboning . In case the official verbiage is making your head spin let me offer you a rough translation: Our economy is toast and we continue to live on borrowed time. Obviously we’re crapping in our pants at the mere thought of raising interest rates as our fragile over bloated service economy can only subsist courtesy of ZIRP and a growing list of creative monetary experiments. But heck what do I know. Maybe without the Fed going all balls out we’d be all fighting each other in the Thunderdome by now.

As you know I’ve mentally checked out of this entire saga years ago. At this point it’s every man for himself. Make no mistake, this is war and I’ll be sure to collect sufficient coin ahead of the oncoming steamroller to afford myself a humble ranch on the prairie. So let’s focus instead on the unfolding setup right in front of us. Equities are whipsawing all over the place but I just grabbed a short position at 2177 (lucky entry on a spike up) with a stop above 2181 (there was a spike higher after this chart was taken). Extremely low odds of this one working out – you have been warned. BUT it’s a major short term inflection point and thus it temporarily offers a smashing risk to benefit ratio.

What are you waiting for. You’re chicken? 😉