The Closing Look
Stocks fell on Wednesday after the Fed raised rates for the second time in a decade. The Fed raised rates by a quarter point and raised their target to 0.5-0.75%. This was the first rate hike in a year and the second in a decade. The Fed said it wants to raise rates 3 times in 2017 but of course that can change. Last year, they said they were going to raise rates 4 times in 2016, and they only raised rates 1 time this year. Yellen also left the door open and said monetary policy is not on a preset course. Separately, retail sales missed estimates and a slew of big tech leaders met with President-Elect Trump.
Gary’s Thoughts: First hairy day in a while as Fed not only raises but actually sounds hawkish and ready to move again. See what happens when you dont have to cover for a president. Yes…politics matters. Dollar soars on news not only because of us but because of them…who continue to print money.
Yoda was not going to short this market.
Butt,, Yoda said to self, ” maybe just a little short on spy.” ” Maybe just a quick short so to tip a Jew boy upside down, and shake a few shekels from his pockets.
Not a big short, , just enough Christmas cash to buy a GLOCK.
Yoda shorted.
The market fell.
Yoda had the cash.
Yoda held the day trade;
this morning, the market rallied, ….as the dollar soared, and Yoda has a profit of 1 cent.
Yoda will have no Christmas GLOCK.