(Market Watch)That's the signal the Federal Reserve gave to commodities markets and the stock market Wednesday after keeping interest rates unchanged at historic lows and making no noise about when its policy of easy money will end.
That markets fell in the last hour of trading after the Fed decision inspired a brief rally had more to do with concern about Friday's jobless numbers and Washington meddling in the financial industry than the rate scenario. Who wants to be long when unemployment ticks past 10%, which is possible Friday?
Read more : http://www.marketwatch.com/story/fed-to-markets-let-the-bubble-blow-2009-11-04
With the Dow reclaimed 10,000 as initial unemployment data dipped again which gave some hopeful signs that unemployment is peaking. Unemployment data is something Pros watch carefully. Tonight is a big night, release of employment situation in the US. The Pros may have follow through buy if the number beats expectation. A dissapointment may turn the tide around. For short term trader, managing volatility with position sizing is important.