I was in a world of pain just a few days ago when this was up around 97.90, and since the Fed has clearly shown it's hand on its willingness to slash rates as deep, far and fast as necessary, I don't think fundamentally I'm supposed to be short rates. So, I'll take the cut, for a total loss of $3,413 across all my trades on this contract. Better than the $12,000 or so I was down on Tuesday at least...
Oh, and SURELY the Fed doesn't cut next week? They'd be crazy to, but then they seem a little irrational...
Yours,
2and20
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