A Puzzling Day
The main topic of conversation among traders today wasn't how great the action was but how irrational it felt. There was no way, based on either fundamentals or technicals, to anticipate this sort of market action. One trader commented that he could not remember a day when he found the action so puzzling.
Of course, the mainstream media will always find a causative factor for a market move and Ben Bernanke was the easy choice today. The fact that he really didn't say anything new is irrelevant. The mere fact that he appeared before Congress is enough for a headline that he was the catalyst for the market action....204 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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