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Market recap: It was quite a day for the tea-leaf readers. Stocks spiked early on release of...

Market recap: It was quite a day for the tea-leaf readers. Stocks spiked early on release of Bernanke’s prepared testimony, then began to fade as he seemed to break with the dovish tone during his Q&A, and then turned red as the Fed meeting minutes indicated a bit of a dilemma over when to taper. Gold futures, up more than 1% early, finished negative. The dollar rallied; Treasurys fell, lifting 10-year yields to 2%.
Comments (25)
  • Whitehawk
    , contributor
    Comments (3129) | Send Message
     
    The "market" actions were hardly arbitrary today...
    22 May 2013, 04:38 PM Reply Like
  • bbro
    , contributor
    Comments (9330) | Send Message
     
    S&P 500 finally broke its 50 30 minute moving average for the first time in
    3 weeks...200 30 minute moving average is currently at 1640....we are still less
    than 1% off the highs..
    22 May 2013, 04:46 PM Reply Like
  • Whitehawk
    , contributor
    Comments (3129) | Send Message
     
    If you have access to futures charts on the intraday: look at the index futures (djia, es, nq100, russell) side by side. Also look at Treasurys and gold, side by side. The dixie forms a good anti-pairs trade to the others today. Past perf not indicative of the future, but we see plenty of correlations here. The relative uncorrelated market? Nat gas. RLL has been selling off - looking for an interim bottom. Perhaps you'd be interested in the latter, given its corr to housing - working off the runup from mid-April.
    22 May 2013, 04:58 PM Reply Like
  • markrpat
    , contributor
    Comments (197) | Send Message
     
    whitehawk, thanks ....RLL please?
    22 May 2013, 09:34 PM Reply Like
  • TFCAB
    , contributor
    Comments (1944) | Send Message
     
    Still a TINA market: There Is No Alternative
    22 May 2013, 05:03 PM Reply Like
  • Whitehawk
    , contributor
    Comments (3129) | Send Message
     
    There are always alternatives.
    22 May 2013, 05:04 PM Reply Like
  • Tack
    , contributor
    Comments (12770) | Send Message
     
    It's going to be pretty funny when the tapering of QE arrives, the market goes through its mandatory initial panic, then everyone discovers that the reduction or elimination of QE has no negative impact on the economy whatsoever. And, why should it? There are already oceans of excess reserves, and that's where QE is going, so why would its cessation mean anything?
    22 May 2013, 05:26 PM Reply Like
  • Whitehawk
    , contributor
    Comments (3129) | Send Message
     
    Bring it on.

     

    The Fed ought to be the lender of last resort, not an active manipulator in the "markets."
    22 May 2013, 05:45 PM Reply Like
  • wmateri
    , contributor
    Comments (518) | Send Message
     
    Tack - no the economy can do quite poorly all on its own thanks. Why didn't the Fed learn that earlier.
    22 May 2013, 10:55 PM Reply Like
  • DianeLee
    , contributor
    Comments (346) | Send Message
     
    Bound to happen. Doves and hawks always have opposing viewpoints, so in the meantime, why not try fundamentals? When QE does taper, there is every reason to believe it will be gradual. Relax. ;)
    22 May 2013, 05:49 PM Reply Like
  • PalmDesertRat
    , contributor
    Comments (2592) | Send Message
     
    I think that's why it's called "taper".

     

    It's interesting to see what happens everytime there is a whisper about ending QE. Imagine what will happen when it actually ends.
    22 May 2013, 07:13 PM Reply Like
  • Nate Sterling
    , contributor
    Comments (414) | Send Message
     
    Tapering of QE will be done gradually and is a welcome sign that the economic recovery is becoming self-sustaining and robust, so don't panic, and if others panic, buy undervalued companies like GNW and WDC on the dip.
    22 May 2013, 06:17 PM Reply Like
  • Hendershott
    , contributor
    Comments (1498) | Send Message
     
    So they buy a bit fewer mortgage backed securities, so what?
    22 May 2013, 06:49 PM Reply Like
  • optionsexpert
    , contributor
    Comments (279) | Send Message
     
    Pullbacks are healthy.
    22 May 2013, 06:53 PM Reply Like
  • Jahpraise06
    , contributor
    Comments (3) | Send Message
     
    I tired of people being so skiddish from the time the Bernanke started talking people started panicking. All he said was in the future we will start tapering which is not anything we haven't heard before.I lost all my gains today!!!!!! I'm new to investing and if this is how the stock market is I'd much rather just put all my money under my mattress.
    22 May 2013, 08:55 PM Reply Like
  • Hammerhorn
    , contributor
    Comments (27) | Send Message
     
    Get use to it. The market is a little girl and everything is mouse.
    22 May 2013, 09:41 PM Reply Like
  • markrpat
    , contributor
    Comments (197) | Send Message
     
    Jahpraise - you didn't lose gains unless you sold your positions. Follow the Fed, Interest rates, world currencies, WSJ, etc. Today was a downturn that only negated gains in SP500 within the last month.
    22 May 2013, 09:52 PM Reply Like
  • PalmDesertRat
    , contributor
    Comments (2592) | Send Message
     
    It's how the market is,always has been.

     

    the market goes up,down,sideways. the best way to make money is buy low,sell high.

     

    I was a net buyer today,sold some in the a.m.bought in the p.m.

     

    It could go down more,but it might go up. I stay invested at all times and continuously re-balance.
    22 May 2013, 10:39 PM Reply Like
  • wmateri
    , contributor
    Comments (518) | Send Message
     
    Jahpraise - the market has been waiting for the suckers to join in. Welcome to the sheeple. I might advise you to pull out with your small losses and just watch and think about it for the next year. Read daily and pretend you are actually investing. Markets will go up and down over the next year and you won't be missing anything really. But you will be gaining an inexpensive and important education. Read a lot more before you jump into this market. The sharks love to eat the little guys for breakfast.
    22 May 2013, 10:59 PM Reply Like
  • Jahpraise06
    , contributor
    Comments (3) | Send Message
     
    I lost all my gains that I had acquired over the last month and now lost some$.
    26 May 2013, 06:10 PM Reply Like
  • PalmDesertRat
    , contributor
    Comments (2592) | Send Message
     
    If the "tapering" or ending of QE causes a major market decline, the Fed will be scared into implementing QE4. They've put themselves into a cycle they won't be able to get out of for many moons.
    22 May 2013, 10:24 PM Reply Like
  • chrisbarnhouse
    , contributor
    Comments (64) | Send Message
     
    Ironically, when they start to taper it will because the economy is getting better - which should be a good thing ??
    22 May 2013, 10:44 PM Reply Like
  • wmateri
    , contributor
    Comments (518) | Send Message
     
    chrisbarnhouse - all the past few years the market has been going up on bad economic news because people realised that meant more juice from the Fed. Now it is about to start going down on good economic news because some on the Fed think that should be a sign to stop easing. As the bull market of the past few years has been among the 'most hated' the bear market of the next few years will be among the 'most loved'. Let the craziness begin.
    22 May 2013, 11:01 PM Reply Like
  • dburgher
    , contributor
    Comments (2) | Send Message
     
    Please...everybody panic, so I can finally get fully invested!
    23 May 2013, 02:27 AM Reply Like
  • ncbeachguy
    , contributor
    Comments (4) | Send Message
     
    if todays market action was caused just by talking points on reduction/elimination of qe.............what can we expect when the real end to qe occurs??

     

    katy bar the door and gird your loins...........the market is in for a rough ride.
    23 May 2013, 02:30 AM Reply Like
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