The past few days have exposed how absurd our market can get. And I don’t see that going away … only getting worse … as we face the next two days of endless discussions on what the Fed will do tomorrow as Ben Bernanke ends his first FOMC meeting. According to the experts who know exactly why the market moves the way it does, we had the market down on Existing Home Sales data on Thursday and up on New Home Sales data on Friday. The effect of housing on consumer behavior and therefore, interest rates, may be the one thing that the market focused on last week, but the last time I checked, it is not the one (and only) thing the Fed looks at. As Ben said last Monday night in his “clear as mud” speech(wasn’t he credited with being blunt and clear?), “The bottom line for [Fed] policy appears ambiguous.” The market seems to be 100% “unambigous” about economic data and what it should mean for Ben - at least for one day at a time. The next day, the reverse is true. One thing I know for sure is that the guessing game of “One and Done” will not end with the decision on interest rates tomorrow and I expect to hear a few more “One and Undones” with the next set of conflicting economic data. So I am going to ignore all of this as much as I can, let Ben do his job, and stay focused on all the other things that go into the signals at Hedgefolios.