20121001
Long 1 TF 838.4, -0.4
Long 2 TF 838.4, 838.6, +1.0, +4.0
Short 1 TF 845.0, +1.0
Long 1 TF 840.8, -0.6
Long 1 TF 840.3, +1.4
Total TF +6.4
Trades taken above were independent of the Chairman's midday press conference, and were all taken in the 1st hour or so. But I thought to comment on my appraisal of Bernanke's current position visa a vie the market at this juncture... I remember him in press conferences around the time of the great Wall Street financial collapse, and how nervous he was, how much his voice quivered. That was near the bottom of the markets, in reality more deserving confidence with at least an oversold bounce due. But today, in stark contrast, Ben seemed very relaxed, apparently satisfied with his QE-ternal strategy, and at ease with the market's position, just when he should be most afraid. Here, I would again note the mismatch between Ben's emotions and the current position of the market trend and cycle, and look to fade Ben's emotional state, and look to get short....
