Macro Fed %?

September.

1) Fed raises traditional 0.25%. Fed's prepared the market for this essentially symbolic rate rise for about two years. Implications: a) market goes down because it's oversold, it's September, and the 0.25% rate rise portends the sky has now conspired with "Them" to poo on the market. USD goes UP, commodities go DOWN, but AUD going DOWN mitigates some of this. Or, rate rise reveals an economy robust enough to absorb this, meaning people are buying stuff, meaning commodities are in demand, see Econ. Supply v Demand for these implications. Markets are oversold, weak hands further weakened, traders come inand buy bargains.
1a) Fed raises unconventional 0.15%. Mixed signal. USD goes UP, commodity complex drifts Down. After September the second worst month of the year looms October. AUD further Down, meaning forex on, toe-hurting stuff sold improves.

2) Fed stays pat. Market sighs relief -- relief from what? Economy is fragile, evoking ghosts from 1930s when Fed prematurely raised rates thereby crushing a nascent recovery, ultimately prolonging The Great Depression: relief. USD drifts Down, commodities go UP.

What to do?

Monday will be carnage because Australia NEVER leads, it's NYSE/NASDAQ/AMEX baby. Calendar day leading excepted, Kiwis count even less than Aussies in world markets -- not a slur, a reality.

CSD specifically is somewhat stressed because of debt covenants -- which no one has articulated regarding a missed payment, probably because it's not public. CSD does not close up shop. Perhaps in September drill results are released, only if the campfire sing-song has exhausted every verse of Kumbaya in english, mandarin and cantonese. Make no mistake, CSD has failed in the drilling department: start; target; drill; release. This is becoming very suspicious to me, ie. who controls the process and why are they dragging their feet? Are they using teaspoons instead of drills? Or is it amateur hour with the geo team, excepting folksy choir repertoire. Disgust every which way.

I will HOLD in anticipation of commercial grades of Sn in the assays. Although one more smiley-toothy, handshakey restaurant photo may make me puke my shares. That, and Hey! here's some paid-for research! are NOT worthy news releases.

Conclusion.

1) Hold nose, hold stock. Look away, but don't "Run away! Run away! -- Monty Python.
2) Sell, at the bottom? Retail perspective precisely, but may preserve capital, unless one is whipsawed.
3) Buy. Falling knife scenario, pro perspective, bottom fishing, drunk with rehab indicated.

If the garden didn't beckon vintage mood modifiers would.

Any reinforcing or contrary non-Zero Hedge perspectives/thoughts welcome...

See you on the other side.

OV

PS made a full position in Au for a variety of reasons -- see my prior posts if you care.