Here comes the rain again
Raining in my head like a tragedy
Tearing me apart like a new emotion
--Eurythmics
Looks like the FOMC statement did not contain enough goodies for the addicts, and markets subsequently drained. SPX was down about 3%, with things really letting go in the last half hour.
While we're still some distance from the August lows in the SPX, other 'tells' hint that a date with those lows may be coming.
The Trannies, for example, were splattered for more than 5% today and are now within spitting distances of their recent lows.
Will be interesting to see how overnight markets, particularly Europe, greet the FOMC decision.
position in SPX
Wednesday, September 21, 2011
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Mike opened a bottle of liquid Drain Opener. He poured the Drain Opener into the sink. Mike waited one minute. Then all the water went down the drain. ...
Drain Line Treatement
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