Trade Cautiously Ahead of the Fed
Forget everything you saw yesterday. It's a buying party being driven by hopes the Fed and the European Central Bank (ECB) are going to save the markets by taking precisely the same action that propped the markets up for this quick fall.
Buying earnings and economic outlooks are one thing, but today it looks more like investors are buying hope and a dead cat bounce. It is a very similar chart to the bounce we saw last Thursday. Still, bulls were able to shake off the early morning fade attempt and squeeze early sellers in quick fashion with help from the ECB and China hinting at a U.S. QE3. What's scary is that it seems China is now "dictating" U.S. policy....327 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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