The Fed came and went Wednesday, silently into the night. As I expected, they came out with basically the same statement as last time….certain to be bullish for stocks over the next few weeks. Gold was on fire and clicked right out the gate, but fell some after the statement. We could see this surge 40-50 bucks over the next couple of days! The VIX shows comfort with this market for now. Bonds took a hit later as did the dollar, but the buck managed to pull up some end of day. The true feel of the decision is usually a day or two after the meeting, so the next couple of days could be interesting. Oil is making its way up near 75 again, as this trade looks good.
RIMM earnings on Thurs night could stoke a rally on expiration Friday…we’ll see how it goes. Buckle up! Some of our current open positions were flying today (RIG, FCX, GS, MS), but we’ll look to take profits later. FSLR is up big afterhours when they came out with positive guidance for 2010. We’re in the Dec 130 calls from last Thursday, so this could rock up to 150 for a big double bagger!
Hit ‘em straight!
by Bagger Vance
![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_6.gif)
![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_6.gif)
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