Wednesday, April 30, 2008

Fed Too Dovish For Me

I covered a bunch of stuff a little while ago. I may have pulled the trigger too early, but I was really hoping for much more hawkish inflation commentary than what I got. I thought Ben would send the message that inflation was his big concern. NOT!!!!!

It was a good two day run but I was really going for the brass ring today until Ben threw a wet towel on inflation. Gold was breaking to new lows and so was USO and DUG was moving nicely off the morning lows until psychology changed. I caught RIG short for a couple of points, but all the good action was early. Still made money, just not bags off it like I thought.

I always try to avoid playing in traffic when possible and thats why I covered.

PS= I reserve the right to get short all over again tomorrow


About Me

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I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.