Fed Impotence

As we predicted the Fed printed another bucket load of dollars, the market rallied, but ultimately ended down on the week. Cruelly, our stop was breached during this move, crystallising a loss for the portfolio. With the end of the year approaching, there is unlikely to be another opportunity. We will short the market with a small position of 3 contracts on any rally above 1335, with a tight stop at 1351.