Online Stock Trading | Bernanke Speaks, Markets Listen

Bernanke Speaks, Markets Listen


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1:00pm EST  Just as Bernanke opens his mouth; markets rise and fall with equal velocity

Ben Bernanke spoke today and led market participants that he was ready to cut rates.  Fed Funds Futures are pricing in a 94% chance the FOMC cuts the Target Rate by 50bps.  This market is looking for some catalyst to the upside, the only problem the big boys are ready to sell it back down.  Like I have stated before this is not the time to be trusting any rally.  I continue to believe we’ll head lower even if we experience weak rallies in between.

Remember, although we may be oversold markets can remain oversold just like we can remain overbought for an extended amount of time.  Play this market safe, not the time to be the hero.

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