Hello traders everywhere! Adam Hewison here, President of INO.com and Co-creator of MarketClub, with your mid-day market update for Wednesday, the 19th of June.
To Taper Or Not To Taper? That's My Question For Ben Bernanke
That is the question on everyone's mind today as the Fed kicks off its meeting at 2 PM, eastern time. Everyone is probably also wondering if Ben Bernanke is going to run for another term. I doubt that Ben Bernanke will want to run for another term, because whoever inherits the current Bernanke mess, created by QE1, QE2 and QEInfinity, is going to have to unwind this trade and that is going to be one colossal mess for everyone. The modus operandi in the USA seems to be that we jump into everything from wars to QEs without figuring out an exit plan. What the market wants to see now, is how the Fed is going to extricate itself from its current bond buying gluttony. Now, that's going to lend itself to some real market opportunities in the future. [Continue reading]