Entering text into the input field will update the search result below

Market Action After Good Earnings Shows Fed Is Only Catalyst

Jul. 25, 2013 12:28 PM ETMETA
Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

The price action in the stock market leaves little doubt. The only way this market can go higher is if the Federal Reserve comes to the rescue again with dovish, money printing comments. Yesterday, great earnings were reported from Facebook Inc (NASDAQ:FB), QUALCOMM, Inc. (NASDAQ:QCOM) and Baidu.com, Inc. (NASDAQ:BIDU). The market shrugged them off and has fallen nicely. Even the day prior, Apple Inc. (NASDAQ:AAPL) reported better than expected earnings and the markets sold off as well.

This is the third day in a row the S&P 500 will be down. The only shot this market appears to have of going higher is Ben Bernanke saying he will print more money for longer. This is a recipe for disaster. It is a drug in the vein of the market. As the average investor continues to pile into the market, the potential of disaster increases through the price action.

Gareth Soloway

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Recommended For You

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.