NARRATIVE For 4-11-13

Profile Trader

OH BIG SNAP!  A couple of lessons from today’s FED snafu.  First, the markets aren’t always fair…so get over it!  There are some real slime balls on Wall Street and it’s a game to see who can “take” the most money.  Understand I said take.  Today the FOMC minutes were leaked (given) to some firms on Wall Street well ahead of the announcement and guess what?  It rallied hard the rest of the day.  Is it fair?  NO!  But that’s part of trading.  If  you were quick you were able to catch the move (disclaimer: we did not catch the move) or you have to wait (be patient) for another setup (there were none).  Second lesson, don’t fight the FED or any other institution that can make markets move.  It’s a losing game.  I can tell you that if you were fading this move or worse averaging into the move…

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