IIFT Daily Note with Peter Brown

Stock markets react to possible QE3

Posted by:  |  Time: 7:13 am  |  Topic:
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Ben Bernanke set the cat amongst the pigeons yesterday by opening up the possibility of further stimulus to the US economy. It was a shock on two fronts, firstly his negative view on economic  performance and then possible QE3. Markets roared, despite the poor outlook to the economy there is nothing nicer for banks than some cheap cash. Gold, S&P soared and the dollar fell.

We are now in new territory and new highs for the year on Stock markets. Hard to see this rally fading  out so any fall off is a buy. We must target 1450 on the S&P and 1725 on Gold. Only danger is a retracement of the statement by Ben.

On housekeeping I am upping my activity on Twitter @peterbrowniift

and this months Boot camp is in Cork on 4th April with myself and Nick Leeson

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