PH,
Bro, news has a four hour half-life. Thus, in just over 24 hours it doesn't even have enough mass to be a memory.
I see Yellen coming out and contradicting the four or five Fed clowns that have said, "NO MORE", as a sign of desperation. My hunch is that it backfires on the Fed, as the jawboning has run it's course. The market may not move until there is a real plan for QE on deck. And right now, I'm not sure politically Berspanky can pull it off.
But, maybe a bigger point, and one that fits with your quote, is that they will say anything on any given day to accomplish some objective. And markets really shouldn't be about that, IMO.
All the while, we know earnings are gearing down. AA goes into rally mode on a, "beat", that was nicely reduced and set up like a T-Ball for 7 year old's.
Fark, I don't know the answer. Not even close.
GT
TH |
