Come Wednesday markets get another chance to hear from Mr. Bernanke at the press conference following the June FOMC meeting.
It pains me deeply to consider how many individuals will be hanging on every word, with hopes of reaching their financial / trading / investing goals – all wrapped up in a single man’s remarks. It’s sad really. It’s almost as though the idea of markets actually trading based on the performance of the companies therein – has been completely and totally forgotten. I would even go as far as to suggest there are an entirely new group of “youthful traders” out there that may not know any different! All “fully invested” only on the premise that “Ben’s gonna watch their backs”. Oh my……
What also kills me is the suggestion that this recent “dip” has been manufactured in the media / by the Fed in an attempt to “gauge” the general investors community reaction to the idea of “less stimulus” – talk about a puppet show!
It really is a puppet show! Pull the strings up….see what happens..let the strings down….see what happens. Sick.
I’ll stick with the general “forecast” that with markets still practially at all time highs – there will be no further mention of stimulus on Wednesday..but likely comments suggesting ” we are ready when needed”. How the markets take it at this point – again….perhaps that “final pop” bringing in the last of the retails before giving things a good flush.
I’m gonna play a bounce in USD, but keep things on a tight leash as I remain medium term about as bearish as a gorilla can be. Any strength in over all “risk appetite” in coming days can only be seen as even better areas to continue selling.