The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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From: UncleBigs	6/28/2006 12:58:49 PM
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field position coming into this fomc is a polar opposite to last meeting. In May, the Dow was positioned to bust an all-time high on the expected Fed pause. When it didn't happen, the market promptly sold off. This time, the market is positioned for indefinite fed hikes. At the money put option volume is swamping call volume by 3 to 1 at least. While it's possible the Fed hikes 25 basis points and keeps the language the same, I believe they pause tomorrow. Paulson needs to cash out $700 million of Goldman shares. Cheney and Rove need a strong stock market right now. It's a matter of national security. We're on the edge of a collapse. I don't think the Fed will push the market off the ledge. It's time for wash, rinse, repeat as Russ says. I'm positioned with my long term shorts offset by index calls.

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