Markets Float After Bernanke Pump Rally - Voice of the People
March 27 2012 - 11:31AM
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Markets Float After Bernanke Pump Rally
The markets are floating flat on the trading day. The
SPDR S&P 500 ETF (SPY) is trading at $141.53, -0.08
(-0.06%). Yesterday, Ben Bernanke pumped the markets with talk of
more QE (quantitative easing). This sent the QE addicted markets
shooting higher like a junkie excited about a fix.
Apple Inc. (AAPL) hit a new all time high today
of $614.91. This is one of the stronger players in the market
today, along with Amazon.com, Inc. (AMZN). These
two stocks are helping the NASDAQ maintain a positive day while the
Dow Jones Industrial Average and S&P 500 are flat to slightly
negative.
Volume has remained insanely light ever since 2012 began. This
is one warning sign that should bother most investors. If things
were so great, volume would be higher as institutions buy stocks
heavily. In addition, this current quarter is the best performer
since 1998, just prior to the technology bubble collapse.
Lastly, pay attention to metal stocks. They have fallen sharply
of late while the rest of the market continues to hit new highs.
The metal stocks are a direct gauge of the global economy. The fact
that they are not rallying tells intelligent traders that the
upside is Federal Reserve based and not fundamental.
Gareth Soloway
InTheMoneyStocks.com
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