Monday, January 30, 2006

Constructive Session

Not a bad day. The market closed up a little, on moderate volume. Breadth was slightly negative. Oil closed up at $68.50, and the 10-year finished at 4.54%.

I didn't expect much action ahead of the FOMC meeting tomorrow. Most investment managers don't like to get too aggressive ahead of these meetings. It's a done deal that they will raise rates another 25 basis points, to 4.50%, but there could be some changes in the accompanying statement that traders will scour for clues.

That's all for now. Have a great night--


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