Pencil,
Actually this is playing out as LT speculated. Big spike up after announcement, gold spurts, followed by the CRASH. The first two occured, now let's see about the big one!
One way of looking at this is the FED has shot it's wad. They certainly will not ease again soon. Now what undisclosed good news remains? It seems remarkable that this announcement comes right before expiry, but perhaps I'm reading too much into this.
Ironically, I had come home this afternoon. I had just entered a short trade on YHOO, precisely when I heard the CNBC announcement. I tired to cancel my order, but it executed and I watched YHOO sail up 3 points in seconds. It has drifted lower, however, and I'm not in too much distress (yet)! |
