|
PureBytes Links
Trading Reference Links
|
You should just go to the Fed's site: http://www.bog.frb.fed.us/
---
Steven W. Poser, President
Poser Global Market Strategies Inc.
url: http://www.poserglobal.com
email: swp@xxxxxxxxxxxxxxx
Tel: 201-995-0845
Fax: 201-995-0846
----- Original Message -----
From: Gary Fritz <fritz@xxxxxxxx>
To: <swp@xxxxxxxxxx>
Cc: RealTraders Discussion Group <realtraders@xxxxxxxxxxxx>
Sent: Monday, October 04, 1999 6:28 PM
Subject: Re: FOMC meeting?
> > The FOMC is just a one day affair. Announcement is tomorrow around
> > 2:15PM NY time. Steve Poser
>
> That's what I thought too, but I got confused by some of the info I
> saw on the web. I checked at several sites without seeing anything
> about 2:15. See e.g. http://www.e-analytics.com/f8.htm :
>
> > Tuesday 5 October 1999
> > Federal Reserve begins its FOMC meeting
> > (( no mention of 2:15 ))
> > Thursday 7 October 1999
> > Federal Reserve releases the minutes of its 8/18 FOMC meeting at 2
> > p.m. EDT
>
> ...and I missed the "8/18" part on Thursday. Ooops.
>
>
> Then I went to
> http://cbs.marketwatch.com/news/current/calendar.htx?source=core/dbc
> and saw:
>
> > Tuesday, October 5, 1999
> > Today's Events
> > 9:30 a.m. Closed meeting of the Federal Open Market Committee, at
the
> > Federal Reserve.
> > 2:15 p.m Announcement from the Federal Open
> > Market Committee, at the Federal Reserve.
>
> So Steve is right. Thanks!
>
> Now, any guesses what they'll do? :-)
>
> I'm guessing the market expects them to hold tight. If they do, the
> market's already pricing it in, and no big move would be expected.
> (Or would the market jump even more?) If they surprise the market
> and hike rates again, I'd expect a big down move. Correct?
>
> So there's a good chance of no big change, and some chance of a big
> negative move. Risk/reward isn't good for long positions. This may
> be one of those occasions to override the system...
>
> Gary
>
|