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Market recap: Stocks rallied for a third straight day, on the heels of upbeat economic reports...

Market recap: Stocks rallied for a third straight day, on the heels of upbeat economic reports (I, II, III) and as a steady stream of Fed officials pushed back against Bernanke-inspired taper fears. The Dow reclaimed 15K, but the S&P pulled back from its 20- and 50-day MAs. Treasury prices rose after a strong auction; gold dipped below $1,200 for a time; crude oil rose but natural gas slid 4.3% on rising inventories.
Comments (6)
  • wapiti
    , contributor
    Comments (694) | Send Message
     
    Bloomberg headlines say Markets up for best 3 day gain since January on strong economic reports. So why does DUDLEY and other FED HEADs spout off about the need for QE? Afraid of the market having a correction??? Me thinks so!
    27 Jun 2013, 04:20 PM Reply Like
  • Steve Soden
    , contributor
    Comments (547) | Send Message
     
    Banks have most of the TARP money they have in the markets.
    They cheat everyday, moving their Billions from One Sector to another, whip sawing the public at every turn.
    Soon they'll have to turn in their TARP money unless they've lost it in the markets or just gave it away to their buddies.
    There will be a lot of Jawboning going on when this happens!
    Buy TBT ($74), if you see interest rates rising in the next year.

     

    Check out TBT 69 Call in the Money options, @ $13.95.
    27 Jun 2013, 08:19 PM Reply Like
  • EK1949
    , contributor
    Comments (1453) | Send Message
     
    "So why does DUDLEY and other FED HEADs spout off about the need for QE?"

     

    It's their job. They have a mandate. They aren't going to forget that because the market goes up 3 days in a row.
    27 Jun 2013, 06:42 PM Reply Like
  • gmihran
    , contributor
    Comments (55) | Send Message
     
    Funny how no one comments on the dismal low volume of these three recent up days versus the previous down days ... smart money remains in cash when QE floats up the indices. Today was the second largest QE day of the month = +$5.25B.
    27 Jun 2013, 07:59 PM Reply Like
  • Rolytee
    , contributor
    Comments (31) | Send Message
     
    The new economic data didn't sound very upbeat to me... all sounds quite marginal and window dressed, along with yesterday's 1.8% GDP revision. The economy is clearly sick, and corporate earnings for the remainder of 2013 must surely disappoint given the anaemic fundamentals. No reason here for the market to go up at all...
    27 Jun 2013, 08:14 PM Reply Like
  • User 353732
    , contributor
    Comments (4758) | Send Message
     
    More manufactured volatility designed to create trading profits for Inside Big Money.
    28 Jun 2013, 05:25 AM Reply Like
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