Waiting for Superman
Another rough week for traders. Frustrations clearly abound, and the finish to the week isn't going to send home many happy campers for the weekend. We've got some ugly charts heading into next week, with some hopes pinned on an emergency Fed meeting. No doubt a Fed meeting would push us significantly higher in quick fashion, even if it eventually fades. It's a move that could last several days or more, depending on what is decided. However, there needs to be a meeting for this to even matter.
Giving thought to the Fed at the moment is like waiting for Superman to show up at your door. I mean, even if you needed help, would you trust a man dressed in a unitard with a cape and a big letter "S" on the front? At this point, traders would only want to see a "QE" on the front, because we all know "S" stands for "sell" at the moment....669 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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