Everyone seems to be running Scared…

Traders like to talk about hated moves. but we are in the midst of maybe one of the least understood, and by definition then most hated bull moves in a long time.

To me, a likely explanation is that eleven years of easy money and Fed balance sheet expansion have taught a decade of traders that FED money is what makes the market move, and now with the FED spigot being closed, few traders know on what to base their decisions.

And to add to the confusion, the fact that we may be nearing the tipping point on oil has taken away another free lunch driver. Don’t get me wrong, oil will probably not go straight to zero, but it will certainly test everyone as gyrates between 50 and 90 in the near future.

So this week the central banks around the world are in play and we all will be watching. May have more to say during the trading session tomorrow.