The Long Shadow of the Fed

After a lousy afternoon Monday, stocks are finding their footing today as hope runs high for a big QE3 announcement from the Fed on Thursday. You can find plenty of reasons to bet against this market, but as long as the long shadow of the Fed is out there, you can't expect too much downside. The worse the news is, the more optimistic the market grows.

Precious metals and commodities have bounced back, which is a sign that bets are being placed on QE3. Retail is slightly weak and there's mixed action in some of the big-caps, such as Google (GOOG) and Amazon (AMZN), but breadth is solid at better than 2-to-1 positive....104 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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