Big Day Pre-Fed
August 5, 2008 2:06 PM
I am a little surprised at the strength of the move here, but not surprised it is up before the announcement. Shorts tend to step aside before the announcement. With no shorts, the markets tend to rally as everyone is on one side. But I am very surprised it has risen this much.
Will be interesting to see the reaction post announcement.
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We better stay above 1272 by 3:30 or they may sell this down…
Well, it stayed up….gap days tend to close at or near the high….and once it cleared the reversal attempt at 1279.25, up we go…