Who's fading today? Housing numbers were nothing great and permits aren't exactly encouraging but futures are up slightly. Another day, another fade?
I think it's risky ahead of bubble-blowing Ben's speech. He could avoid housing and mortgage woes, though, and focus on PCE. That would scare people.
why do I have this feeling that the market is going to do one of those huge 150+ point gains tomorrow....
I have the same feeling.. I seem to remember ,for many of the Fed meetings since last summer, that the market had a huge rally after the decision was announced. So why not just get long today ahead of it?
I imagine those short swing/position traders who jumped in when the S&P was around 1380 are just a bit uneasy right now...
You have to take a guess at whether Bernanke will really talk up the markets. He did last time. Maybe it's fair to assume a probability he'll do it again. If he remains market neutral in his comments, what effect will that have? A lot of circumstances have changed since his last speech.
I think the comments are more worrisome than anything. Plus, with expectations that Q1 numbers are going to signal a slowdown, the market will react irrationally to whatever happens.