The market rallies without any cares at the open until Merkel kills hopes on expanding the EFSF. This tanked the Euro to 11 month lows taking equities with it. The market manages to rebound mid day, but the FOMC comes in with a second punch on worries over Europe and no QE 3 speak.
The NASDAQ leads the way into negative territory and the S&P breaks a good support level of 1228. This opens us up to 1180 S&P, but i’d say what happens on Fed day is usually not the right direction; plus we are nearly oversold.
Thanks to mother market I added to TZA this morning and then took the money and ran this afternoon; leaving me net short only with ERY….which is fine with me since it was up despite oil being up.
I love this game called Wall st…..and yes Cramer you can make real money day trading risk on / off
DOW down 66.45
S&P down 10.73
NADAQ down 33
