Central Bank Soap Opera
Although neither the Fed nor the European Central Bank have delivered what the market really wants, they continue to dangle the hope of action and that is providing support. There was plenty of disappoint with ECB chief Mario Draghi, but he has kept hope alive and that is enough to prevent any aggressive selling.
The main thing I'm hearing from traders this morning is that they are sick and tired of the Central Banker Casino. Constantly trying to anticipate and react to the headlines has turned standard stock picking into a minefield. Unfortunately, this focus on macro headlines is not going to end soon. The July jobs report comes out tomorrow and that is going to set up another round of central bank speculation....108 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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