|
PureBytes Links
Trading Reference Links
|
> 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
|