time to be v cautious ahead of fed meet tonite, page-6

Interestingly, redbacka, whose charting skills and market knowledge I admire massively, says that very often the Dow stays green on FOMC night, and it's the following night that it decides where it's REALLY heading...so maybe they'll try and find warm and fuzzy words to use tonight and the reality will set in later.

Will be interesting to see.

Our own market appears to be a little more 'intelligent' than the US market! Caution is there in spades.

US futures have been dropping all day, so the crystal ball needs polishing, as I don't have a clue what will happen, and suggest tight stops on index trades would be wise.

We all seem to know there are still massive fiscal problems around the world, but the Americans don't seem to want to accept it - but it's pretty easy to manipulate a market that is covered by only 30 stocks that almost 'rule the world' surely?!