Posted in the Day Trading Forum
Since: Jul 11
#1 Mar 1, 2012
Yesterday I said Wednesdays data will be bigger than Tuesdays data which are; GDP, Chicago PMI, Beige Book, and Ben Bernanke speaks to Congress. Moreover, we will get the results of the European LTRO Act 2. Although some are saying the LTROs are not the QE equivalent of Ben Bernanke, it is. When the ECB repos junk for cash; what else is it than money printing a-la the US Fed.
The GDP report was better than expected. The Chicago PMI was much better than expected and the Beige Book is always blasé. Even Europes LTRO cash-for-trash scam went off without a hitch; but Chairman Bernanke did not.
Although Chairman Bernanke gave his usual central banker double-speak, he gave no indication of QE3 and when asked about it by the Congressional goof-balls, he continued to make no overtures of QE3. Moreover, when asked about his brothers-in-crime, the ECB, he said The ECB is well capitalized.
The markets liked neither. The markets love the current ~$10TRILLION faux-stimulus it has gotten from the central planners and hates the idea of the punchbowl being taken from the party. The market wants the punch bowl to stay and wants it spiked again:Bring on more *hiccup* vodka! Bring on the QE3 and LTRO3.
When the drunken/methamphetamine addict (the US/global stock market) felt like it wasnt getting another fix it instantly suffered withdrawals. I think I saw it lose a tooth or two as well nasty habit. Anyhow, the withdrawals led to a reversal lower that hasnt been seen since, oh I dont know, maybe since QE2 was withdrawn. After that, the drug pusher (read: Ben Bernanke) came right back onto the scene with Operation Twist.
Speaking of Operation Twist and the Fed, isnt it quite a coincidence that Operation Twist by the US Fed is now ENDING exactly when LTRO2 of Europe is STARTING? Did you know that?
Yeah, thats surely a coincidence a fluke a twist of fate or a direct arrangement of the global central planning masters that rule over everything. You decide.
Trade well and follow the trend, not the so-called experts.
Best Trade To You,
President & Founder - TradingAdvantage
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