CL Redux

[BCE]

My own personal stock shot up too after it was learned the Fed is considering printing money with my likeness on it they'll give me.

 

[ammo]

Quote from BCE:

Careful with those shorts. I think this news is that last bounce at least, which I caught some of so all was not wasted.

The news:

March 7, 2012, 12:00 p.m. EST
Fed weighs new form of quantitative easing: report

WASHINGTON (MarketWatch) -- The Federal Reserve is considering a new kind of bond-buying program that would simultaneously try to limit inflation, according to a report in the Wall Street Journal. The Fed would print new money to buy long-term mortgage or Treasury bonds but effectively tie up that money by borrowing it back for short periods at low rates.

pure bs on my part but ya have to wonder if the big players (the ones hoarding it in tankers because the hoard on land is full)ran it to 110 to unload because the economic ship is beginning to turn

 

[BCE]

Quote from ammo:

pure bs on my part but ya have to wonder if the big players (the ones hoarding it in tankers because the hoard on land is full)ran it to 110 to unload because the economic ship is beginning to turn

Yeah, there's so much bs that goes on. You know.

 

[BCE]

Here's a more complete version of the story:

* March 7, 2012, 12:21 PM ET

Fed report juices stocks, gold; QE3 back in play?

Stocks and commodities got a jolt of adrenaline in midmorning trade Wednesday after The Wall Street Journal reported Federal Reserve officials were considering a new type of bond-buying program to subdue worries about future inflation. The article, by reporter Jon Hilsenrath, said the Fed would print new money to buy long-term mortgage or Treasury bonds but effectively tie up that money by borrowing it back for short periods at low rates. Read full story on WSJ.com.

“The story itself is prudent planning on the part of the Fed,” said Dan Greenhaus, chief global strategist at BTIG LLC.

The message was: if we have to do anything else, here are the types of things we’re expecting.

But the market just heard one thing.

“All the market heard was ‘new steps,’” points out Greenhaus.

“There’s a feeling among investors that the odds of additional easing had been going down. A story like this suggests they’re still considering it,” he said by telephone.

Peter Boockvar, equity strategist at Miller Tabak, was even more blunt.

“The mad scientists at the Fed are contemplating every single possible scenario to keep longer term interest rates from moving higher,” he wrote in emailed comments.

He also attributed the market bounce to the Journal story, which he summarizes as the different things the Fed will discuss next week “to continue to keep their giant boots on the yield curve.”

Richard Gilhooly, of TD Securities, suggested the described Fed plans — if implemented — could boost the U.S. dollar and weigh on commodities, since the “operation could lower long term rates and mortgage rates, without the negative side effects of boosting commodity prices and would essentially be a curve flattener.”

But for now, investors appeared to be treating the news as an early sign of the extra liquidity that’s boosted stocks over the past three years.

The Dow Jones Industrial Average /quotes/zigman/627449 DJIA was up 69 points at 12,827 and the S&P 500 /quotes/zigman/3870025 SPX gained 0.6% to 1,352.

Gold futures rallied 0.8% to $1685.90 an ounce. And crude-oil futures added 1.4% to $106.15 a barrel.

– Laura Mandaro

 

[ammo]

Quote from riskaddict:

While I was at the gym I had a buy order at 104, kind of sucks that they give you dirty looks if you use your phone while you're working out because 104.75 looked good to.

Lots of places to try and fade a rally today.

risk on my tos there is a volume profile on the left of that dom chart showing a wide spot at 5 85 1954 contracts, i dont know how to adjust it but its useful..if we break that the next is 5 70 1658 contracts

 

[BCE]

"Richard Gilhooly, of TD Securities, suggested the described Fed plans — if implemented — could boost the U.S. dollar and weigh on commodities, since the “operation could lower long term rates and mortgage rates, without the negative side effects of boosting commodity prices and would essentially be a curve flattener.”

 

[BCE]

Quote from riskaddict:

because 104.75 looked good to.

That's where I was shaken out. Was L @104.78.

ADD: Just one of those days. 10 million wasted opportunities. Onward and upward (account balance that is).

 

[BCE]

Didn't follow that last move up.

 

[Visaria]

What would we do without the Fed, eh? LOL

 

[riskaddict]

Wow what a surprise bull flag forming 107 here we come!