Give It a Rest
This morning's euphoric follow-through to yesterday's QE3 celebration cooled off as the day wound down and some profit-taking kicked in. Even though the market closed near the lows of the day, it was still an impressive showing considering how many bears were betting on a "sell the news" reaction to the Fed announcement Thursday.
The bears keep hoping that the market has fully discounted the moves by the European Central Bank and the Fed, but they have been consistently wrong. They underestimate how hungry the market is for further quantitative easing even after seeing what the first two rounds did for the market. Whether or not the additional QE actually achieves its purpose is irrelevant, but it clearly is a boon for stocks when there is more cheap money floating around....181 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.