Crazy FOMC Day
Crazy FOMC Day
Yes, my dear rat minions – it’s that time of the month again. No, not the one when your wife expresses her utmost disapproval of your sheer existence because you left the toilet seat up and didn’t bring the trash out last night. No the other one – yes – it’s FOMC day which is worse than OPX week – the horror… the horror!
I love the smell of napalm in the morning….
This is how I see it right now – either we turn around 905 -908 or we push a lot higher. I decided to hold my Dec. puts until b/e – not going to take a loss. If the tape turns before that happens – good – if not – well, it was worth a shot 😉
Glad I cashed out my July puts on Monday…
10:55am EDT: Boy, they are not holding back today, are they? I updated the chart above – seems like 915 now is in the cards. Quite frankly – if we push beyond that I’m back in cash – I was prepared to take on some pain during a B-wave correction but I’m not taking a loss on my puts.
