Registered: Feb 2004
09-22-12 04:12 PM
Blow off rally into the Elections off of the Oct/Nov 2011 lows. Still a lot of time. You want to sit short for 2 or 3 more months through that?
QE3 just formally announced, great for equities market but little consequence for guy on the street. We are not here to trade the guy on the street. The Fed announcement added this wording. Print it and tape it above your screen, until they remove it: until such improvement is achieved
"If the outlook for the labor market does not improve substantially, the Committee will continue its purchases of agency mortgage-backed securities, undertake additional asset purchases, and employ its other policy tools as appropriate until such improvement is achieved in a context of price stability."
All the other "QE"s were defined but this is QE on steroids? Other tools? WTF? The beatings will continue until morale improves.