Next Wednesday's FOMC meeting is one day beyond the forecast horizon of my model. At this stage the model is saying to be long till the close Monday or maybe Tuesday. Being long the FOMC meeting looks to be a high risk proposition. I am thinking to stay long through Tuesday and around Tuesday's close sell a lot of my shorter term trades and hedge the rest of my portfolio with SKF. So I would go into the FOMC meeting with a market neutral portfolio that could outperform if the Fed doesn't cut rates. After this week's emergency 0.75% rate cut it's hard to imagine them cutting again, and yet market participants seem to believe that. I'll also go into IBKR's earnings release Thursday afterhours US time long 200 IBKR. I'll probably sell half my position then either way, good or bad. It worked last time.
At this point we've bounced around $US20k off the bottom.
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