It was 9th June 2014 – approximately one year and 3.5 months ago – when the SPY first hit the number we closed on last Friday.
And that was after a day of selling unleashed by nervous-nellies busy watching the Fed’s every move on an interest rate change.
The media coverage was almost funny; the slicing and dicing of each and every word in the ensuing statement – along with the prognosticators attempting to project (read: guess) what the Fed ‘really meant’ with each dissected syllable.
And all for what? To fret over all the same stuff again at the next Fed meeting…the 25 basis points of interest…or the job the bond market has already done for the Fed?
If you sense a bit of sarcasm here, well…..
It’s taken 15.5 months now to go exactly nowhere…within a 5% trade range… Read More >