FOMC Stand By Mode

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.