Baggins It's the elephant in the room which is driving the SP down!
You will probably have to wear some volatility until the Fed meeting next Tuesday/Wednesday.
Personally I don't think they will start tapering QE this year, it has too much potential to derail the recovery if it is done too early, but no one cares what I think! lol
The session was dominated by speeches by Fed officials that suggested the central bank could reduce its US85 billion a month stimulus spending as early as next week. Fed Bank of Dallas President Richard Fisher said the bank should begin tapering "at the earliest opportunity". Fed Bank of St Louis President James Bullard said the odds on a taper have risen and a small reduction this month would reflect the improved job market. Jeffrey Lacker, president of the Richmond Fed, said stimulus cuts will be on the table at next week's monthly policy meeting.
AGO Price at posting:
$1.19 Sentiment: None Disclosure: Not Held
