- Fed "prepared to provide additional accommodation if needed" = as close to QE2 as they could get without actually doing it = RISK ON
- Sell USD/fx (even USD/JPY is lower)
- Buy Gold+other Commodities
- Buy Equities
- Buy USTs - lower yields now driving Risk On instead of usual positive correlation (previously, risk on = yields higher)
- Core Book is exactly positioned for this (QE2), not by conscious design, but stumbled upon while looking for LT trends in individual charts. Make what you will of this; but for me it is proof that Charting/Trend Following works.
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