18th September – S&P Emini futures trading – Fed rate cut – wow, look at market move!
Hi All,
As the Fed would doing their thing today, it’s best not to trade until the announcement is made. When the announcement was made which was a cut of 50 basis points, the stock market shot up!
It was painful to watch it shoot up and not be part of the move (it went up 100 prices!), I waited for a pullback and got one. It went to 152500 and retraced to around 151250 and then I got in at 151800. I rode it up and it did bounce off 152500.. I felt a little uneasy here but left it.. it retraced to 152000 and then went up again. I rode it a little longer and got out at 152975.
Wahey, that was a nice +47 price gain!
