Tuesday, June 24, 2008

FOMC day


TraderMike has gone fishing, which is probably a good thing to do right now unless your like Trader Stewie and making money everyday like its nothing.
For me, the best opportunity lies within the 1-2 days after the FOMC announcement. I'm hoping I can get a good trade on Thursday or Friday based on a pattern I've seen in the past surrounding FOMC announcements.

I think the FED is going to keep rates unchanged.
I'm expecting Bond Futures to rally and the stock market to selloff on the day of the FOMC announcement. 1-2 days after the announcement, I'm expecting Bond futures to return to about where they were before the announcement. No matter what happens, I'm expecting bond futures to return to about where they are today 1-2 days after the announcement. If bond futures don't move much, then I'll trade something else. I'll be keeping an eye on the Euro, Gold, and Crude Oil tomorrow as well. Tomorrow should be real interesting.
YM-

ZF bond Future-

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