re: bring out the bulls
What a complete joke yesterdays rally in the Dow was. The Fed will not stop raising rates anytime soon. Complete fools buying stocks because some members of the Fed released dovish information from the minutes. Let's see how smart the Aussie market is today. I thought yesterday was a "smart and logical" day from the XJO. I feel like staying completely neutral. Fools rally, enjoy buying stocks in this Fed controlled environment.
If they stop raising rates gold will surge because the US dollar will crumble.
0933 [Dow Jones] S&P/ASX 200 likely to rise 10 points but stay vulnerable after sharp bearish reversal yesterday, say dealers. Index will need to close above 4638 to hold its uptrend line from October low. Some risk it won't manage that after base metal prices fell sharply overnight. Wall Street rose despite higher oil price, amid talk that FOMC minutes were dovish, but some dealers disagree. "Of course the Fed is going to remain sensitive to economic data and conscious of what those rate hikes would do to the slowing economy. People are thinking there's an end to interest rate tightening in sight and there possibly could be, depending what the oil price does." Notes oil showing signs of bouncing. Says, "It's a sucker's rally in the U.S." Index last 4622.9. (DWR)
DOW Price at posting:
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