Daily Speculations

The Web Site of Victor Niederhoffer and Laurel Kenner

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The Chairman
Victor Niederhoffer

3/22/2005
Victor Niederhoffer: A Father/Fed Approval:

All children have craved the approval of their fathers, a saga told through the ages and mentioned in the Bible with the story of Joseph and his brothers.  Once Joseph became special in his father's eyes, the brothers became jealous and plotted Joseph's demise. It's instinctual to crave this approval. Nowhere is this more common than in the public's desire to have father Fed approve of their actions. Thus, a normal fear and action soft shoe generally occurs before the Fed meeting with fear the previous week, and then relief at the blessing bestowed by the Fed with moves of optimism right before and subsequently. The broad brushes of this are displayed in Duncan Coker's chart below. (Notice the concatenation above the x-axis)

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