Monday’s “action” contained a very slow early decline followed by an equally slow, but longer, rally. The volume was very low and the total range wasn’t even ten points.
What was interesting, however, is the fact that the Federal Reserve’s market manipulation via POMO is in overdrive: there were two POMO operations Monday and will be two more Tuesday. Outside of that, there was no real news to discuss.
There is news out there though (massive debt) that is being discussed in nearly every governor’s mansion in the country. “60-Minutes” recent program discussed this very subject with NJ governor Chris Christy and others, which I believe is an important subject.
http://www.cbsnews.com/video/watch/?id=7166293n&tag=contentMain;contentAux
What was interesting, however, is the fact that the Federal Reserve’s market manipulation via POMO is in overdrive: there were two POMO operations Monday and will be two more Tuesday. Outside of that, there was no real news to discuss.
There is news out there though (massive debt) that is being discussed in nearly every governor’s mansion in the country. “60-Minutes” recent program discussed this very subject with NJ governor Chris Christy and others, which I believe is an important subject.
http://www.cbsnews.com/video/watch/?id=7166293n&tag=contentMain;contentAux
Trade Date: 12/20/10
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