Replies to post #24743 on The New CS Board

[jonnytrade]

I am long some energy out of mining shares right now waiting on direction .
I think oil is bottoming so I am in but only with one toe so I bought protection today at the close.
I own nothing else to speak of .
As we all know these fed meeting lead to wild swings.
Thanks for sharing your views.
You made a killing shorting miner's as I recall when I was dead wrong and on the other side of that trade .
I respect your views and opinions .

[jumanji0881]

There was a preponderance of weak US economic news today and the markets seem to be anticipating that the Fed will not raise rates to due the weak data. I've never thought the Fed would raise rates and if the economy continues to weaken, as I expect it will, then they will not raise in December or perhaps not even in 2016. The real point though is that a 25 bp increase in rates should make a hill of beans difference to the economy or the markets. The budget debates should begin soon as the fiscal year ends in 2 weeks and I don't expect much cooperation among the lawmakers. So, I don't expect this rally to last past Thursday because weak economic data does not make for increased earnings which are also due to begin in a couple of weeks. I added more mining shares today as one of my below the market bids was hit.