By All About Trends

From here on out the rest of the day volume drops off and things tend to slow down, aside from S&P downgrading Spain as we write this, but we’ve all already known that and it’s not anything new if you ask us. Just that it happened on a pre-holiday trade day in the dog days of summer which as we’ve said tends to amplify movements.

Folks, its official Bernanke spoke and the markets reacted a bit. True to form with news announcements the markets reacted in standard all over the place form minutes after. So what are we going to do about it? Nothing but let the dust settle that’s what. Besides its super pre holiday trade today and from here on out things drop off for those getting an early start to the holiday weekend here in the states.

So what did Uncle Ben really say?

“Taking due account of the uncertainties and limits of its policy tools, the Federal Reserve will provide additional policy accommodation as needed to promote a stronger economic recovery and sustained improvement in labor market conditions in a context of price stability.”

Really? No kidding! So you see what he really said was nothing. We can now return you to our regularly scheduled Yellow Brick Road Trend channel programming as August finally comes to a close. We look forward to a more normal market envireonment coming as early as Tuesday.

As subscribers already know we did some house cleaning of fledgling short side issues and a little nibbling on the long side today, from more of a “Be There” perspective than anything else. We’ll be talking more about why in our next newsletter to you over the next few days. Nothing wrong with any of the names on our lists and all look good here. Make sure you check the trade alerts today via your email or on the site in case you missed them.

Have a great weekend and start to think FORWARD as in from here into year end.

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