Real money comes next
There's a bit of a dip here in post-Fed trades like stocks and commodity FX but it won't last.
Fed trades come in waves.
Fast money pounces on every headline in a thinner market and pushes it quickly. That continues for a few hours until those positions are loaded up.
Over the following hours and days, real money gets involved. Those are long-term hedge fund positions and the like. They evaluate everything before making trades but they take much larger positions.
There was considerable worry amongst all market participants that the Fed didn't 'get it' in terms of markets but Yellen showed today that the Fed is still the best friend of stock markets and risk trades. That money will go back to work and it will take stock market right back to their highs.
It's the same story in FX and I think the best trades right now are commodity currencies. AUD and CAD could run 3-5 cents over the next few weeks.
