Covered Some of the Short
I covered some of the short I took out the other day. After reading the testomony yesterday, and seeing how the Fed thinks stagflation is no where in sight, I do not question that they will simply pump money into the system.
I am a bit troubled by what he stated to congress. And I think the market is too, hence the decline… but no one can really argue with the effects of what quickly pumping money into the system will do. After this decline, the market may rally to the upper limit of what I think will be a trading range.
As of now the upper limit is still in question, but the one thing I am sure of, is that the upper limit will not surpass 1450… I even doubt 1430.
