Information received since the Federal Open Market Committee met
in August indicates that economic growth remains slow. Recent
indicators point to continuing weakness in overall labor market
conditions, and the unemployment rate remains elevated. Household
spending has been increasing at only a modest pace in recent months
despite some recovery in sales of motor vehicles as supply-chain
disruptions eased. Investment in nonresidential structures is still
weak, and the housing sector remains depressed. However, business
investment in equipment and software continues to expand. Inflation
appears to have moderated since earlier in the year as prices of
energy and some commodities have declined from their peaks.
Longer-term inflation expectations have remained stable.
Consistent with its statutory mandate, the Committee seeks to
foster maximum employment and price stability. The Committee
continues to expect some pickup in the pace of recovery over coming
quarters but anticipates that the unemployment rate will decline
only gradually toward levels that the Committee judges to be
consistent with its dual mandate. Moreover, there are significant
downside risks to the economic outlook, including strains in global
financial markets. The Committee also anticipates that inflation
will settle, over coming quarters, at levels at or below those
consistent with the Committee's dual mandate as the effects of past
energy and other commodity price increases dissipate further.
However, the Committee will continue to pay close attention to the
evolution of inflation and inflation expectations.
To support a stronger economic recovery and to help ensure that
inflation, over time, is at levels consistent with the dual
mandate, the Committee decided today to extend the average maturity
of its holdings of securities. The Committee intends to purchase,
by the end of June 2012, $400 billion of Treasury securities with
remaining maturities of 6 years to 30 years and to sell an equal
amount of Treasury securities with remaining maturities of 3 years
or less. This program should put downward pressure on longer-term
interest rates and help make broader financial conditions more
accommodative. The Committee will regularly review the size and
composition of its securities holdings and is prepared to adjust
those holdings as appropriate.
To help support conditions in mortgage markets, the Committee
will now reinvest principal payments from its holdings of agency
debt and agency mortgage-backed securities in agency
mortgage-backed securities. In addition, the Committee will
maintain its existing policy of rolling over maturing Treasury
securities at auction.
The Committee also decided to keep the target range for the
federal funds rate at 0 to 1/4 percent and currently anticipates
that economic conditions--including low rates of resource
utilization and a subdued outlook for inflation over the medium
run--are likely to warrant exceptionally low levels for the federal
funds rate at least through mid-2013.
The Committee discussed the range of policy tools available to
promote a stronger economic recovery in a context of price
stability. It will continue to assess the economic outlook in light
of incoming information and is prepared to employ its tools as
appropriate.
Voting for the FOMC monetary policy action were: Ben S.
Bernanke, Chairman; William C. Dudley, Vice Chairman; Elizabeth A.
Duke; Charles L. Evans; Sarah Bloom Raskin; Daniel K. Tarullo; and
Janet L. Yellen. Voting against the action were Richard W. Fisher,
Narayana Kocherlakota, and Charles I. Plosser, who did not support
additional policy accommodation at this time.
while i appreciate and pay for matt and steve's leadership
dissention is good. it gives alternatives to following
the herd. it should be encouraged on the
blog (particularly when they disagree with our hosts).
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nice charts
Financials -- rejected (so far) at key resistance
Posted by gspag on 28th of Dec 2012 at 01:46 pm
nice charts
KO
Posted by gspag on 17th of Dec 2012 at 09:50 am
KO- wedge 15 min
DNN
Posted by gspag on 14th of Dec 2012 at 02:30 pm
http://stockcharts.com/h-sc/ui?s=DNN&p=D&yr=0&mn=11&dy=22&id=p07181081825&a=270351534&listNum=3
looks like a bull flag. any thoughts?
CORN
Posted by gspag on 9th of Aug 2012 at 09:27 pm
how do you short corn when this parabolic move is over?
DUK - bear flag
Posted by gspag on 13th of Jul 2012 at 12:39 pm
FOMC
Posted by gspag on 21st of Sep 2011 at 02:27 pm
Release Date: September 21, 2011
For immediate release
Information received since the Federal Open Market Committee met in August indicates that economic growth remains slow. Recent indicators point to continuing weakness in overall labor market conditions, and the unemployment rate remains elevated. Household spending has been increasing at only a modest pace in recent months despite some recovery in sales of motor vehicles as supply-chain disruptions eased. Investment in nonresidential structures is still weak, and the housing sector remains depressed. However, business investment in equipment and software continues to expand. Inflation appears to have moderated since earlier in the year as prices of energy and some commodities have declined from their peaks. Longer-term inflation expectations have remained stable.
Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee continues to expect some pickup in the pace of recovery over coming quarters but anticipates that the unemployment rate will decline only gradually toward levels that the Committee judges to be consistent with its dual mandate. Moreover, there are significant downside risks to the economic outlook, including strains in global financial markets. The Committee also anticipates that inflation will settle, over coming quarters, at levels at or below those consistent with the Committee's dual mandate as the effects of past energy and other commodity price increases dissipate further. However, the Committee will continue to pay close attention to the evolution of inflation and inflation expectations.
To support a stronger economic recovery and to help ensure that inflation, over time, is at levels consistent with the dual mandate, the Committee decided today to extend the average maturity of its holdings of securities. The Committee intends to purchase, by the end of June 2012, $400 billion of Treasury securities with remaining maturities of 6 years to 30 years and to sell an equal amount of Treasury securities with remaining maturities of 3 years or less. This program should put downward pressure on longer-term interest rates and help make broader financial conditions more accommodative. The Committee will regularly review the size and composition of its securities holdings and is prepared to adjust those holdings as appropriate.
To help support conditions in mortgage markets, the Committee will now reinvest principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities. In addition, the Committee will maintain its existing policy of rolling over maturing Treasury securities at auction.
The Committee also decided to keep the target range for the federal funds rate at 0 to 1/4 percent and currently anticipates that economic conditions--including low rates of resource utilization and a subdued outlook for inflation over the medium run--are likely to warrant exceptionally low levels for the federal funds rate at least through mid-2013.
The Committee discussed the range of policy tools available to promote a stronger economic recovery in a context of price stability. It will continue to assess the economic outlook in light of incoming information and is prepared to employ its tools as appropriate.
Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; William C. Dudley, Vice Chairman; Elizabeth A. Duke; Charles L. Evans; Sarah Bloom Raskin; Daniel K. Tarullo; and Janet L. Yellen. Voting against the action were Richard W. Fisher, Narayana Kocherlakota, and Charles I. Plosser, who did not support additional policy accommodation at this time.
auth
Posted by gspag on 20th of Sep 2011 at 08:10 pm
broke out today...sorry i didn't post earlier
Fibonacci
How about a baby naming contest for Matt's New born daughter???
Posted by gspag on 2nd of Apr 2011 at 09:49 am
Fibonacci
AUTH
Posted by gspag on 11th of Mar 2011 at 11:40 am
not dead yet? exploding today.
has matt posted the number
Helicopter Ben will be buying Tomorrow.
Posted by gspag on 6th of Feb 2011 at 10:34 pm
has matt posted the number of up to down mondays in a while?
do you look to trade
VIX 60 min
Posted by gspag on 2nd of Jan 2011 at 01:58 pm
do you look to trade VXX on a break?
ROCK
Posted by gspag on 30th of Jul 2010 at 10:44 am
this was posted earlier this week by Matt
sweet
Steamboat Springs (Quick View)
Posted by gspag on 27th of Jul 2010 at 10:27 pm
sweet
triangle
Posted by gspag on 28th of Jun 2010 at 03:30 pm
...breaking down on 5 min....
while i appreciate and pay
Ruffle some feathers, TA has failed
Posted by gspag on 15th of Sep 2009 at 09:52 pm
while i appreciate and pay for matt and steve's leadership dissention is good. it gives alternatives to following the herd. it should be encouraged on the blog (particularly when they disagree with our hosts).