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January 31, 2006
Volatility with Fed decision, Tues., Jan. 31, 2006, 2:23 PM
The Fed decision to raise by 25 basis points was totally expected. But traders shot the Dow 30 up like a rocket for three minutes, and then put those rockets in reverse. What the pro traders did was to catch the buy orders before hammering the market down.
If you are not experienced at these tactics, it pays to step aside.
P.S. At the close, this is more evidence of volatility today following the Fed announcement.
Now we are awaiting the Google earnings report. Reaction is going to be interesting.
Posted by Posted by Bill Cara on January 31, 2006 02:23:55 PM | Category: Cara Today in the Market