In short, buy stocks.
Remember that 2011 NY Fed study which found that since 1994, a stunning 80% of all equity returns on U.S. stocks were generated over the twenty-four hours preceding scheduled Federal Open Market Committee announcements, a phenomenon called the pre-FOMC announcement “drift.”
Authored by Lance Roberts via RealInvestmentAdvice.com,
As the Fed begins its two-day meeting, global stocks have recovered their footing and European shares rise, led by a bounce in tech stocks as last Friday's global selloff that started in the sector shows signs of abating. Asian stocks and U.S. futures gain as investors turn their attention to today's Jeff Sessions testimony as well as tomorrow's barrage of macro data including Yellen, CPI and retail sales.
Authored by Vitaliy N. Katsenelson via MauldinEconomics.com,
We are having a hard time finding high-quality companies at attractive valuations.
After Goldman, JPM and even Dennis Gartman all opined on Friday's "tech wreck", in which the Nasdaq tumbled 2% as the Dow Jones hit new all time highs (the only previous time it has done that was in 1999 just as the tech bubble was ramping up), and when the Philly semiconductor index fell 4.2%, SocGen's Andrew Lapthorne could not resist, and in a note released on Monday morning, explains that what happened on Friday was merely an episode of "systematic momentum selling", or said otherwise, a teaser of what happens when the algos all "head for the door all at the sam