"Initially there was disappointment on the part of traders who were expecting QE to be imminent.  They dumped equities, bonds had a rally off the lows, and gold and silver were hit.  But at the end of the day we're right back to where we were before, where everyone is expecting QE3 at a later date. 


Norcini also added: "As someone who has actively traded these markets for over two decades, I find what our markets have deteriorated into to be very distressing. Here we are with the most sophisticated markets on the planet, and all traders around the world are waiting for a statement from the Fed and looking at a single word in that statement (the word was `very') to determine what they are going to do.

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