- Cable range yesterday. Low before FOMC 1.4634. High after FOCM 1.5165. 5 big figure range on the day.
- How to survive with long/short position intact? Impossible. Either very very lucky or very very ill disciplined. Long die. Short also die.
- Will have to put unfortunate experience of being involved yesterday down to bad luck. Get over the trauma and start again. Shit happens. Stop feeling sorry for yourself and fight back.
- Nevertheless, big picture view remains the same. Fed will lead the world in rate hikes, bullish USD intact.
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Financial crisis : FOMC first rate cut from 5.25% to 4.75% on 18Sep2007.
By 16Dec2008, FF cut to 0.00%-0.25% ie taken just 1.25 years to cut rates by 5.25%.
Rate has remained at 0% since then ie already 7+ years.
And here we have Yellen agonizing over a 25 bp rate hike. Meanwhile, stocks and bonds (and property) building up a huge bubble. Only 1 way this can end .. in tears.
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