As I sit on my couch this morning, flipping between CNBC and Bloomberg, I realize that I missed a very interesting day last Friday. I spent the day driving back home to Florida from my temp-job in Connecticut. This morning, I see that everyone is making their final bets on Tuesday's Fed Rate. It's still all about the Fed Watch.
I want someone to start "Hedge Fund Watch." These guys are all tripping over each other, trying to out maneuver the next guy by getting in first on any news. That's still my best explanation as to why GDP is reported down (the economy is slowing!!!) and the market rallies for 6 days. The Wall Street short-term thinking is still the way it always was, but now there is more money in the hands of those who would trade the news. I say betting around the HF's might be a good strategy: see where the money flows on crazy news, and then hedge against it. Could you call that a "Fund Against Funds"?
Futures are down, Europe is down. Is it finally safe to go short on some of those stocks that shot up last week on up-earnings? Volume seems to support that, so here's hoping I can get the money back I lost!
It'll be nice to have Bloomberg again. The hotel I was staying at only had CNBC, and they do somthing in their ads that annoys me. CNBC is constructing their advertising in an attempt to prove to my why I SHOULD be watching them. Notice what Becky Quick says right before commercial on Squawk Box, or the ads as to why we should be watching Fast Money. Granted, I like hearing real day-traders talk (since I don't know any personally), I have to add some salt to the conversation given the venue.