Good Old-Fashioned Fear

The computer programs picked up on the words "Fed" and "tapering," which was enough to produce the biggest pullback of the month. The chatter was either that the Wall Street Journal was going to publish an article about the Fed tapering off QE or that one of the most dovish Fed members made comments indicating he wasn't sure QE could continue forever.

Since endless Fed-created liquidity is the primary driving force behind this straight-up move, any comment, no matter how vague, causes an immediate reaction. Nothing spooks this market more than the idea that the Fed may actually look to exit its QE program....1091 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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