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FOMC Stand By Mode
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FOMC Stand By Mode

FOMC Stand By Mode

by The MoleJanuary 6, 2016

In case you haven’t heard – we’ve got FOMC minutes on the roster today. As usual they’ve scheduled it mid-session, guaranteeing marginal participation for most of the day:

Not sure why this can’t be done in the morning so we can move on with our respective trading activities.

2016-01-06_spoos

After a promising start yesterday equities were sent to the woodshed overnight. My long position with it of course. Right now I see zero entry opportunities here – quite simply it’s not advantageous to find yourself so close to medium term support hours away from an FOMC announcement. Volatility is almost guaranteed to take you out.

2016-01-06_ZB

Miraculously the bond campaign survives thus far and I’m keeping it in play as it was a small position to begin with. Otherwise I would probably reduce my exposure as price has reverted near my entry and my stop is still at -1R. Not an optimal strategic entry in my book.

Alright, I’ll chime in here after the FOMC madness has subsided a little.

About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
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