Market still churning

• Posted by vinaydh
• on December 17th, 2009

I thought that the fed would not change their language from the Nov meeting but surprisingly they did. The very thought of an end to low rates regime made the market edgy. The dollar too rallied sharply. I was certain that the fed won’t spook the market but they did by hinting that easy monetary policy may be coming to an end.

We slipped back below 1100 today. I think the action tomorrow will be dictated by the expiration. It would be interesting to see if stocks such as AAPL and GOOG get pinned to a round number strike or not. More than likely they will.

This market action of the past few months has really taken the fun out of writing about the market action. There is no point analyzing this listless market if it has to remain in this 20 point range forever. I still think a breakout will happen though the market will take its own sweet time. It’s better to play small until then.

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