Tuesday, September 20, 2005

Doing nothing...

Market open seems mixed. Crude backed off a bit, and futures are up at the moment, although the street doesn't want to commit too much on the positive side thanks to the uncertainty before the Fed meeting.

Nothing to do today except wait until 2 pm... I have nothing left to sell, and certainly won't buy, since the market making crew will be bringing us all down from 11am to 2pm to build in their risk premium just in case.

I'd prefer this behavior by the mm crew over the alternative, which would be to throw a party and dramatically pull the plug at 2 pm by sending the market into a tailspin!


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