This session began an hour ahead of a Fed announcement that was exactly as expected: a 25-basis-point increase in the Fed funds rate. The shameful hysterics this produced had trading implications for all of about eight seconds. For our part, we got steamrollered with what we’d intended as a cautious bid in TSLA. Bottom line: Don’t trade at the instant a Fed announcement is due to hit the tape. Despite this, the session is a good refresher in the psychology and rudiments of mechanical and counterintuitive trades, with a bit of psychologizing on the very lesser charts.
