Wednesday, 18 March 2009

FOMC Meeting

I don't know what's going on today, but it's necessary to pay attention to what is happening because "current events form future trends." The FOMC released its statement today at 2:15 EST and a lot of markets skyrocketed. The stock market shot up, gold blasted off, oil exploded (although belated), treasuries got a bid up, and the dollar plummeted against other currencies. Essentially, you had 3 of the 5 major asset classes explode up. From a human psychology standpoint, there was a lot of emotion in these markets today. I don't know what this means yet, but today could be a sign of future trends in the market.

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