Market hoping for Fed interventionPosted: August 23, 2011
The markets are at the highs of the day now even though the morning news about new home sales and and Fed Virginia survey were gloomy. This can all be good, right? After all bad news=good news mantra is standard fare on Wall Street waiting for alms to be dropped by Fed on their outstretched palms.
In the meantime Gold and Silver getting thrashed being off 2 and 3% respectively.
Will short QQQ’s at the 20 DMA