IIFT Daily Note with Peter Brown

QE3 ?

Posted by:  |  Time: 7:42 am  |  Topic:
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The volatility sees no end. Amazing market yesterday. Rise, fall, mega rise, fall. This is the pattern of uncertainty.

US market hoping for a sign of QE3 on Friday. Will they get it. Well, I think Bernanke will do everything to try to calm the market but will stop short on QE3. Afetr all it has not worked so far. The difficulty has been that despite all the billions they have thrown at it. non of the cash has reached the street. All they have suceeded in doing is to make the bankers richer.

I think the market will get carried away with the expectation though, so my short trading strategy will be tempered between now and Friday.

Hopefully we can get the S&P up towards the 1200 level. The collapse from there will be fantastic.

I hav’nt traded Fx in a while but the US is looking like such a basket case, I would not be surprised to see the Euro head to the 1.50+ level.

As for Gold you know it’s a roller coaster. Still going up so buy the dips.

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