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[I notice we also close under 5DMA]
The prospect of a larger firewall to protect against contagion has helped the currency avoid steeper losses. The greatest risk for the euro is contagion. There is growing concern among the investment community that Spain could tap the EU’s rescue fund
Presented by Gareth Soloway March 28, 2012 11:52AM
The Bernanke Effect is wearing off. Monday, Federal Reserve Chief Ben Bernanke gave the markets a positive statement towards more quantitative easing. The markets roared sharply higher, making new 52 week highs. However, with the markets trading up 30% since the lows of late 2011 it was short lived. In addition, Ben Bernanke has done his best to use every gun in his arsenal to pump the markets based on nothing but added liquidity and hot air. His bullets no longer have a lasting effect. Early on, the markets were fooled and would rally for days. This latest rally lasted just one full day. The markets have almost negated the entire move higher from Monday. The SPDR S&P 500 ETF (NYSEARCA:SPY) is trading at $139.95, -1.18 (-0.84%).
The reason you can tell the market is up on hot air and Bernanke pumps is because of the metal and commodity related stocks. If there was true global demand, metal stocks would be soaring. However, stocks like Southern Copper Corporation (NYSE:SCCO) and United States Steel Corporation (NYSE:X) have been the poorest performers in this rally. Be wary of the governmental body or Federal Reserve who would fool the retail investor into thinking things were better than they truly are.
Take the seven day free trial to the Research Center and Intra Day Stock Chat. Join the elite pros as they profit on the market going up and down. Learn proprietary techniques that will help you achieve everlasting wealth. Become the best in the world at InTheMoneyStocks.com.
Gareth Soloway
Chief Market Strategist
www.InTheMoneyStocks.com
The reason you can tell the market is up on hot air and Bernanke pumps is because of the metal and commodity related stocks. If there was true global demand, metal stocks would be soaring. However, stocks like Southern Copper Corporation (NYSE:SCCO) and United States Steel Corporation (NYSE:X) have been the poorest performers in this rally. Be wary of the governmental body or Federal Reserve who would fool the retail investor into thinking things were better than they truly are.
Take the seven day free trial to the Research Center and Intra Day Stock Chat. Join the elite pros as they profit on the market going up and down. Learn proprietary techniques that will help you achieve everlasting wealth. Become the best in the world at InTheMoneyStocks.com.
Gareth Soloway
Chief Market Strategist
www.InTheMoneyStocks.com
Despite another round of weaker economic data and a decline in the 10 year Treasury yield, the U.S. dollar has not extended its losses as investors realize that Bernanke's comments are targeted at the recent rise in bond yields. He may not be as serious about boosting monetary stimulus as his comments suggest but he fully intends to keep interest rates low and the money flowing. QE3 is a decision that the Federal Reserve will not make lightly and one that will probably be reserved for a more troubled time in the U.S. economy.
http://www.fx360.com/?et_cid=21186954&et_rid=wallstreet1928@gmail.com
