Street Justice: Holding my breath.

As I sit on my hands in front of my computer, waiting for The Fed to say something meaningful and save our economy. I have a few minutes to reflect on our current situation. I guess being right isn't good all the time. When I had mentioned that I believed the market was headed for a turnaround, I didn't konw it was going to happen today(jk). I almost wish I had acted on some of my thoughts, because energy took a beatin' today. I don't know what you all think, but I believe spectulators are getting cold feet in anticipation of government involvement. I don't like congress getting involved too much in speculation, but I am for transparency. It is after all the American Dream to get rich off domestic growth. Also, I am worried the fed is concerened too much with speculation and may miss bigger problems. Speaking of the fed, as I sit here they are reporting on interest rates and are not raising rates right now. They did make positive comments though. Downside risks have decresaed in economic growth. There is a high prob. they will increase rates in September. Congress is having a meeting today too. They are discussing speculation in energy trading. I hope they don't do anything too drastic. I want a chance to make money, before energy costs level out. So far the energy sector has taken a beating today. Also, RIMM announces earnings after the bell. It may not be such a bad day after all. I've even found a IPO worth checkin out. They are called Energy Recovery Inc.ERI. They make ceramic rotors for water desalanization plants and their product reduces energy consumption by 60% vs competition. Sounds good to me. They are being priced around July 1st. You can check out the video and their prospectus at www.retailroadshow.com . O.K time for me to show how little I know about the markets. This month my stock pick of the month is HK(petrohawk energy) up 68% since jun 1st and has what I think is lots of upside. They are down slightly today, maybe a good time to buy. As Forex goes, my pair of the month is USD/JPY up from 104 to 108 this month. Take that Euro! When it comes to funds I might start lookin at some financial ETF's. My strategy for the week isn't going to change too much with the Fed news. I'm still long energy and the dollar going into Friday. Keeping in mind GOOG and RIMM announce earnings this week. My longterm strategy has changed a little. I am looking and financials right now, I STRESS LOOKING. I don't think the oil bubble is poping anytime soon. Even with less speculation we're still gonna be using alot of oil till we get serious about alternatives. That brings me to my new section, Street Justice. This is where I find out if u agree with me. Every other Blog I'll ask a question looking for your opinion about economic conditions. I would love Blog comments or e-mails as responses. So, how do you feel about the fed meeting and energy speculation? Please don't forget to let me konw what you think of the Blog too. well, I suppose it's not gonna be such a bad day after all. Oil is dipping and the Fed didn't seem to hurt with their comments. Hopefully we can carry it through the week. GOOD LUCK!!! and thanks for reading!!