Ripe for a Spike?
The bulls were hopeful that low expectations for the jobs report might set up for a bounce, but the news turned out to be far worse than even the bears had expected. It was the third poor jobs report in a row and this one was by far the worst. Unfortunately, there's also a mess in Europe and just about every recent economic report has disappointed, from sentiment to ISM to housing, and that left us with no buying interest at all.
The bulls are hoping that sentiment might be negative enough for a washout and, of course, there is the usual hopeful chatter about QE3. But, so far, the buyers aren't embracing any positive scenarios. With Fed chief Ben Bernanke speaking next week and the FOMC monthly interest rate decision coming, the quantitative easing chatter is going to continue. In fact, a new poll shows that expectations for some form of QE later in the month are now up to 80%. When this market does bounce, QE speculation is very likely to be the catalyst....162 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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