Post by
tony1969 on Jul 29, 2012 6:09pm
Think about it guys.....
Why did the Dow rally about 500 points in the last 3 days of last week on nothing but bad earnings and bad news on the global economy. Could it be that we finally get an announcement of somekind of stimulus next week? Big European Central Bank (ECB) meeting next week as well as a FED meeting on wednesday. They may want to get ahead of the jobs data on friday. It will be like pushing on a string but I believe they will do something. I believe most of the news will come from Europe. The market will rally on the news but then sell off when it realizes that it is just basically paying off debt with more debt. It should help gold but who knows anymore.
Comment by
arlene2 on Jul 29, 2012 6:53pm
Tony -- Yes , I ,too , believe the DOW rally was in large part speculation what the FOMC will do in their one day meeting , Tuesday , July 31.......More people (and smarter ) than just you and I believe QE3 is a given...If it does happen , it will really be gold friendly...
Comment by
comet52 on Jul 30, 2012 1:41pm
It rallied off Draghi's statement on the euro. The cb's keep a lid on their intentions and markets typically have to guess. I don't buy any "the insiders know what's coming" rhetoric wrt central banks. History shows they don't.