| Today's Comments (Short Term Outlook) |
|
Just a quick update today. The Fed raised rates by 1/4%. The market ended the day up. I noticed that the day after a Fed interest rate change, the market tends to go in the other direction of the "after Fed announcement" move. That would mean a down today but that observation isn't worth much. A modest drop today wouldn't be the worst thing in the world after a 30 point rally in the S&P. The nervous investors seem to be expecting a pullback. The market tends to do the opposite of what everyone expects. Bottom line: Who knows what will happen today? The market seems to want to go up for now. Let's let it. Even if it pauses today. That's all for today. Currently 40% C, 30% S and 30% I fund. See you tomorrow. |