EDGE TRADER

Friday, June 16, 2006

When the Fed Speaks

keep a close hand on your wallet. This morning seems to be further proof of that, since the market may open down and not coincidentally some hawkish remarks about the nation's inflation indicators were made yesterday. Seems nothing more than noise to me, since any economist with a pulse knows our inflation indicators understate true inflation, but I guess they need to headline something on CNBC.

I am still thinking the overall bias for the morning will be up for reasons stated yesterday, but who knows? I can't have a moment's hesitation in riding right back to cash.

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