Wednesday, October 31, 2007

Oct 31 HALLOWEEN AND THE FOMC ANNOUNCEMENT


Today's the BIG DAY!
IT'S the SUPERBOWL of TRADING DAYS!
IT's FOMC's INTEREST RATE DECISION DAY!
WITH your host,,,,,BEN BERNANKE and CREW!
Good luck Traders.

Here are the charts going into the day-
ZN=10yr



YM= Dow Jones Index



ZQ= Fed Fund Futures



ED- EuroDollar




I'm expecting "NO CHANGE" in the interest rates. Why,,,, because,,,,who cares,,,

Today's big NEWS is that the GDP was better than expected for the 3rd quarter-
"The Commerce Department on Wednesday said the country's gross domestic product grew 3.9 percent in the third quarter, a faster pace than the 3 percent growth economists had forecast, on average. The report may have calmed some investor concerns about the economy's health ahead of the Fed's rate decision." (Rueters News)

Out of all the economic reports that come out, the GDP is considered to be the most important in gaging the US economic health. The 3.9% growth for the 3rd quarter is bullish for stocks.

HAPPY HALLOWEEN-



BEWARE THE FREAKS!

2 comments:

Brian on 2:44 PM said...

Well, the markets liked the Fed's decision, at least for today. Let's see how things shake out over the next few days, after everyone has had time to digest all of this news.

Personally, I am a little puzzled about how the market is reacting to lower interest rates + record high oil prices.

High Probability Trader on 12:22 PM said...

The option premium on Crude Oil has got to be huge from the fear of oil popping up 10 dollars overnight. Fear leading that market is characteristic of a volatile and risky market to trade. I expect the Dow to hit new highs by year end.

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