Bernanke and the market
We have seen quite a lot of news lately. Most of it positive (mining, infrastructure, construction) and some negative (housing). Many earnings releases were incredibly positive. Nevertheless, the market didn't budge.
Today, Bernanke commented that the economy is cooling. This was taken as a directional commentary. The market has been more worried about a lack of clarity over the economy and less about actual interest rate hikes or other elements.
The market has shot up some 170 points.
Almsot all of the stocks we got stopped out of have come raging back. ET & JBLU especially. I am still waiting. I need to see the strength continue through the week. I am primarily concerned about tomorrow's housing price report.
Also, AAPL earnings release today will have a strong impact on tech.
Today, Bernanke commented that the economy is cooling. This was taken as a directional commentary. The market has been more worried about a lack of clarity over the economy and less about actual interest rate hikes or other elements.
The market has shot up some 170 points.
Almsot all of the stocks we got stopped out of have come raging back. ET & JBLU especially. I am still waiting. I need to see the strength continue through the week. I am primarily concerned about tomorrow's housing price report.
Also, AAPL earnings release today will have a strong impact on tech.
posted by Andrew at
8:45 AM
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