IIFT Daily Note with Peter Brown

Building up to Ben.

Posted by:  |  Time: 7:33 am  |  Topic:  |  Comments: 4
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The market awaits the latest installment of the Ben Bernanke saga on Wednesday. This monthly testimony has taken on a significance which is frankly stupid. Will he won’t he taper? The volatility associated with these events is something quite new. Whether it is down to trading robots or not it is something we have to get use to. The reality is he will not taper but that will not stop the market going crazy. With all this printing of money and monetary support the Central banks worldwide are providing, it has destroyed the normal functioning of markets. Are they creating the bubble of all time?

These are questions for the Autumn , in the meantime we should see a quiet bull market leading up to 3pm tomorrow.

Jobbing I’m afraid until then.  S&P  1686  1672  1667  Euro 1.3100  1.3050  1.3000

4 Comments

Ross

July 16, 2013

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Print Me Bernanke, for it is all that you can do. This talk of tapering is exactly that, talk! Mr B is pouring cows blood into the ocean. Seeing how many sharks turn up. Careful Jaws doesn’t get a whiff and turn that crock of a boat you are in over. Then there’ll be nowhere to hide.

herbie

July 16, 2013

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What’s happening to the euro this morning, Peter? Or is it the US Dollar strenghtening in lieu of the speach of Bernanke?

Peter Brown

July 16, 2013

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Nervous over Spain and comments on negative interest rates.

1.3100 was a good top so you should have been square or short, there was no buy in the market this morning. We are waiting to see if Euro worries come back into play.
1.3000 still good support

Peter

Niall

July 17, 2013

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Sorry I’m very late adding this comment so it is probably useless but Eye on that IBEX…. technically very simple pattern…. do not buy.