Why am I doing this ?

As we see this latest effort by the FED to control markets come to what looks like either an interim halt or the end, I have to ask myself why do I do the work, run a lot of charts, look for logical cause/effect relationships in stocks and interest rate markets. It made sense when I cut my teeth trading commodities back in 1968, where except for occasional squeezes by the big guys, like Bunker Hunt, we basically worked with supply / demand A good X/Y scatter chart would put you in the ball park, and then a basic point and figure chart would give you trading signals. My mentor when I got on the CME floor in 1970, would make new point and figure charts every Friday afternoon. Friday’s action every week would be done in red, and then he would copy the action in red to new charts and throw away the old charts. He said that keeps you focused on what is happening in the moment, don’t let history drag you down.

So while I ponder those questions, I will be waiting to see what the FED Notes say this afternoon. Maybe I’ll never give up fighting the FED and the inequality they create. Or maybe the time will come when all of us FED fighters can take advantage of the opportunity when they have to face up to all the mayhem they have created over the past 11 years.

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