This post was just published on ZYX Short Sell Change Alert.
P is short from $28.34. As of this writing P is trading at $21.03. Per the last post, partial profits were taken around $14.42. Consider taking profits on the remaining position and exit the trade.
As always, this is a reminder to cancel any GTC stop or target orders.
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(The Weekly Digest reproduces the morning capsules made available every morning before the market open in the Real Time Feeds to the paying subscribers. )
Yellen, in her press conference after the FOMC meeting created a lot of confusion. The consensus take was that she was not going to raise rates for a very long time. This raised the question, “What does the Fed know that we do not know?” The uncertainty caused a global sell off in stocks, run up in gold and bonds.
Last night, Yellen changed her tune.