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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: Cynic 2005 who wrote (75654)11/16/1999 2:54:00 PM
From: bill meehan  Read Replies (2) of 86076
 
Mohan, I've been expecting a 25bp rate hike since the last meeting and have consistently stated the Fed will also move to a neutral bias.

Recommended yesterday morning that traders plan an exit strategy ahead of the announcement (which is where I took profits on most of my long OEX position), but also stated last night that, "I continue to believe that any weakness will be well contained, and that the stock and bond markets will continue higher into the new year." I am very surprised that the Dec bond dropped as sharply as it did, but not surprised we reversed right around the Sept peak.

What really shocked me was that there were so many "experts" that said the Fed wouldn't raise rates. "Sell to whom" shouldn't be a problem until next year, although it's very difficult to game a mania.
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