Wednesday, October 27, 2010

WSJ's Hilsenrath Single-Handedly Tanks the Market Today (for Now)

Well, the markets didn't wait for the Fed announcement. On the pronouncement by the Wall Street Journal writer citing anonymous "fed officials" last night that the much-anticipated QE2 may be less and shorter, they decided to do the dumping right away.

The talk that the Fed may do less has been in the financial media for the past few days, but it took WSJ's Hilsenrath to give the market a definite direction: Down.

  • Dow Industrial Average is currently down 130 points;
  • Treasuries are down (yields are up);
  • Gold, silver are down;
  • Oil is down;
  • Ag commodities are down (except for SGG and JO, as everyone needs a cup of strong coffee with sugar either to combat this market or stay awake during the market hours);
  • US dollar is up, as I expected in the last post.


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