Searching for Positive Catalysts
The market has held up very well for several weeks, primarily due to speculation about central bank action. Even though there have been many indications that a QE3 announcement might not be forthcoming at Jackson Hole on Friday morning, the market has not been too concerned. The bulls figure that the Fed will eventually ride to the rescue again, so why worry?
Today, the bulls had second thoughts and decided that maybe they should temper hopes for QE3. Ben Bernanke is still likely to say that the Fed is ready to act, but perhaps the delay in implementation of more monetary policy might not be such a good thing....226 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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