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Yesterday, all of the major stock indexes around the world surged higher after the central banks announced the coordinated intervention for the banks holding European debt. This action by the central banks is a repeat of the action taken back in September 2008. We all know what happened shortly after the intervention in 2008 as the stock markets cratered into March 2009. This time around the central bankers will probably be a bit smarter and the current scenario will not be as dire so soon. In other words, the liquidity pump will be kept on turbo mode. The problems will only seem a little better than they really are.
Recently, the European Central Bank (ECB) had a changing of the guard. The former President of the ECB Jean-Claude Trichet has been replaced by Mario Draghi. Now it is important to note that Draghi was the vice chairman and managing director of Goldman Sachs International. This guy lowered the key interest rates in the European Union on his second day in power by 50 basis points. In other words, Draghi is ready to inflate the markets at all costs. Italy, France, and the United States have all had talks of making the ECB more like the Federal Reserve. You see, the Federal Reserve can print all the money they want. Just look at the recent reports and you will see that they have bailed out the banks to the tune of over $7 trillion. At this time, the ECB cannot print money to bail out the banks and this is exactly what is going to change very soon. The ECB will soon be just like the Federal Reserve and they will begin to print money and simply monetize the debt.
Everyone knows that when you monetize the debt it causes inflation. This is what is coming down the road. This plan will take some time to implement, however, it won't take that long. The institutions know this and will simply play the inflation game the same way they have in the past. Inflation is coming, and it will come in a big way. Traders and investors should continue to be cautious as these stock markets are likely to be extremely volatile over the next year while these central banks get there plans in order.
As any Pro trader knows, volatility is a traders best friend. But for the novice trader they can get pushed out of a position for a loss very quickly in this environment. Join the Pros and profit, its that simple. Day trade with our Pros for free in our Intra Day Stock Chat. Invest with the best in our Research Center.
The markets are hovering on the flat line today. This is what is called a pause or consolidation day. The SPDR Dow Jones Industrial Average ETF (NYSEARCA:DIA) is trading at $120.13, -0.07 (-0.06%). A pause or consolidation day tells pro traders that the market may be looking for more upside early next week. This type of pause day occurred on Tuesday, after the massive rally on Monday. It was a precursor to the even bigger rally yesterday of 500 points on the Dow Jones Industrial Average.
Technology is the stronger sector today with stocks like Google Inc. (NASDAQ:GOOG) pushing higher. Amazon.com, Inc. (NASDAQ:AMZN) is also having a strong day, trading at $197.55, +5.26 (+2.73%).
The markets have been on a yo-yo of news, stemming from Europe. While all eyes have been focused on Europe, slowly economic news in the United States has improved. Tomorrow, the closely watched Non Farm Payrolls and Unemployment Report will be released. These will have an impact on the markets but still overshadowed if something happens in Europe.
Stocks to watch today included Diamond Foods, Inc. (NASDAQ:DMND). After dealing with accounting issues, the stock is finally bouncing. It is trading at $30.00, +2.25 (+8.11%). In addition, MasterCard Incorporated (NYSE:MA) hit major resistance on the daily chart at $379.50. It has started its pull back already and will most likely continue. Note the chart below. To get swing trade alerts and proprietary market analysis, take the seven day free trial to the Research Center and Intra Day Stock Chat. Join the pros and start profiting today.
Gareth Soloway
Chief Market Strategist
OK folks back to trading ...lets put everything behind us !!
one last chart before I hit the sack
let the chart do the talking
FTSE 100 - H&S has been negated , hence emotive move in opposite direction = short squeeze = bulls in full control
add in china rate cut and lower dollar swap rates = bullish fundamentals
FTSE 100 is now bullish as we are past 75% fib retrace = bias change principle
FTSE target over the Xmas period looks like 200 MA @ 5650 is inevitable now as shorts get squeezed
there is a potential for a pull back to retest the break out level @ 5420, but this is a bull flag and I will certainly be looking to buy
http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2011/11/30_Dr._Marc_Faber.html
http://www.zerohedge.com/news/pimcos-4-iran-invasion-oil-price-scenarios-140-doomsday
