Today´s market activity was very choppy closing 0.25% positive as Mr. Bernanke gave his testimony in Capitol Hill. He stated that outcoming data will determine QE tapering and that accommodative policies will persist for the forseeable future. As stated in Bloomberg : “We’re going to be responding to the data,” Bernanke said today to the House Financial Services Committee. “If the data are stronger than we expect, we’ll move more quickly” to reduce purchases. If data “don’t meet the kinds of expectations we have about where the economy’s going, then we would delay that process or potentially increase purchases for a time.” On the economic front housing starts came in lower wich should have resulted in a lower market. Our strategy work well today and we prefer to short on spikes.
Today´s Profit USD 310 (Portfolio Size: USD 25,000)
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- Bernanke Says Fed Bond Purchases Not on ‘Preset Course’ – Bloomberg (bloomberg.com)
- BOOM, BUST: Housing Starts Unexpectedly Fall to Lowest in Year… (bloomberg.com)