Finally.... Fed may focus on action.......

Fed has been articulating since May 22nd that they may have to curtail bond buying IF economy improves. Fed also have been contradicting repeatedly that it is not imminent. Now comes the "crunch time on Wednesday" ......

Wednesday most analyst are predicting $10 billion cutback in bond buying, if this is the decision then it is fully discounted in the market.......

Many Money Managers are bearish on the market for the month of September, many retail traders are also being cautious & are either "underexposed" or are buying protection......

This Strong bull market has fooled most of the investors & traders most of the time by being "highly resilient"...so i will not bet against this TAPE....Fed or no Fed decision.....

It has been "highly prudent" to be bullish than being skeptical or bearish.....where is Doug Kass & Robert Prechter now on their "constant bearish calls"

Jimmy the Cramer "the all knowing" is also preaching "caution......

I am glad that pundits are being cautious because skepticism fuels future rallies.....

Technicians are saying that there is "major resistance around "1700 to 1710"...so based on close of 1687.99....there is barely 12 points left in this rally......i beg to differ strongly.......

I personally believe that we are heading towards a series of new highs with "minor digestive process"

I also believe that World Economies have "reacted to Fed tightening already"

SO...buy any weakness...as we are heading "much higher"

Here is my portfolio weighting :

AUY  21.55%

FNSR 18.47%

CLF   17.50%

AMCC 17.36%

BAC    14.36%

ANR   10.76%

Exposure 167%

BLOG does NOT give buy or sell.

Saleem