The only questions remaining: “Is it baked in the Clam’s Cake?” We moved up nicely into this 1350 area and I took off a bunch of longs yesterday. I’m a bit concerned by the manic nature of market participants recently. Last week they were panicked about a Euro meltdown. Now everyone wants to buy what I’m selling.
I’m betting whatever the FOMC has to say is pretty much baked into current prices. I flattened out my longs and took some $TZA yesterday. I’m not very interested in taking any long term bets here. There doesn’t seem to be much of an edge to look out more than a couple days.