Tuesday, August 9, 2011

Waiting for the Fed: general update

It would seem that all eyes are on the Fed today. Trading Fed announcements is tricky business. Sufficiently tricky that I, for one, have never come up with a reliable approach -- perhaps you have.

At this moment, the e-mini is hugely off its overnight lows; bonds are down a little; the USD is a lot sideways; crude is back above $80 ($82k in fact) and gold is down.

Grains have been hurt by the falling equities prices and general fear. There is some recovery there as well.

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