A Choppy Ride
The action this morning is chaotic, with poor economic reports and worries about Europe undermining decent earnings action. It looked like we were going to see squeeze action after shrugging off the higher-than-expected unemployment claims, but housing and the Philly Fed numbers were worse than expected and caused a rush for the exits.
It's stabilizing a bit now, and you can bet that the bulls will be mumbling under their breath about QE3 due to the poor economic reports. The bears' biggest fear has to be that things are so bad that the Fed will start hinting about cranking up the old printing press again. It might be a questionable policy, but that doesn't much matter to the folks who have gorged on endless liquidity for the last few years....133 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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