The drop was precipitated by a news release that moody's has put the US triple A rating on review, and added that default can be avoided even if the US raises the debt limit. It just has to be timely.
No, he is not, and reading through the Fed Minutes release, I did not see any indication of QE3, at least not a QE3 as extensive as QE1 or 2. The Fed (as testified by Bernanke) emphasized fiscal responsibility over additional quantitative easing and did not seem to indicate any drastic monetary easing. Simply adopting an easing policy isn't the same as a full blown QE3. They simply <b>DO NOT HAVE THE RESOURCES TO DO THIS.</b>
Since the book is thinner after hours wouldn't it make sense for a big buyer to drive prices down to get a favorable price. Anyone see the last two days AH action as bullish?
There is nothing that would suggest being bullish will turn out to be profitable (until several days past August 2nd) at these levels. These are lower highs heading to higher lows followed by more lower highs and lower lows eventually.
Do not have the resources to create electronic money on an glorified Excel spreadsheet? Please. QE3 will be big enough to fund the deficits and to keep borrowing low.