Anti Instinct Trading In Taper On And Taper Off (updated)
Journalists and analysts all writing to save their lives.
Reports swinging wildly between Taper and Taper Not after the FOMC minutes depending on where the Dow was.
RATES: Treasuries Fall After FOMC Minutes; 10Y Yield 2.676% 3:00:32 AM
Many on Fed Awaiting More Job Gains Before Tapering QE: Economy 3:26:05 AM
Fed Minutes ‘Dovish,’ Show Confidence in Outlook: Barclays 3:41:57 AM
Then Bernanke spoke ….
Bernanke Says More Needs to Be Done Since Financial Crisis 4:10:00 AM
Treasuries Erase Losses as Bernanke Eases QE Tapering Concern 5:27:39 AM
All clueless !!
Look at the AUD chart.
You are not alone. Every analyst out here whose report is floating around is equally confused.
The winners are the order book guys, taking out the stops on the top and bottom while everyone is scratching their heads in between.
How to be one if you do not have the order book ?
Anti Instinct trading. Trade against yourself and your instinct. If it looks improbable, it is and it will happen. If you think it cannot go up, it will and if you think it cannot go down, it will too.
Most importantly, do not think or read anything and you will be safe.
Going into BoJ this noon, it looks like we could be sitting for a 3 point range.
And look !! Bloomberg has already pre-empted a header into it.
Yen Holds Gain Versus Dollar After BOJ Decision 10:50:58 AM
Now tell me the reporters are not going mad too ?