Random Thoughts Into the FOMC Meeting

By Todd Harrison  SEP 18, 2013 10:35 AM

Observations on a tale of two tapes.

 


Editor's Note: Todd posts his vibes in real time each day on our Buzz & Banter.

Ben Bernanke and his policy brethren are the focus today as they’ll provide hints surrounding their oft-discussed taper plans. Conventional wisdom dictates they’ll announce a token taper—or the plans for a token taper—while wrapping their message in accommodative data-dependent language. 

If the past is a prologue, the vernacular will attempt to communicate a “heads we win, tails they lose” mentality or similar semantics, consistent with the bullish bent that a backstop is in place until the economy improves, and once it does, it will post-rationalize and future-justify higher prices still.
 
Today will be a tale of two tapes with 2 p.m. ET (when the news hits) as the toggle. As such, below are some Random Thoughts surrounding the financial landscape and the world at large, in no particular order:
And finally, in some housekeeping news…
R.P.

Twitter: @todd_harrison

Position in SPY.

Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at todd@minyanville.com.

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