Who else is glued to the DOW?

[momo]

U mad?

i'm just mind boggled.

[347Mike]

U mad?

A little.

[Denny]

nonsense.

U mad?

[347Mike]

I placed a buy for IR. It is way way oversold and depending on how the market looks tomorrow am I may just place a market order and remove my current limit order.

[Denny]

Or he is trying to do what he should have done this time last year and just offer lip service. The economy will recover fine if they just leave it alone and can shut up the idiot at the White House.

Buyers are definitely in the house. I suppose that is encouraging. Probably the hedge funds.

That's giving him a little too much credit. More like a defensive move.

[momo]

nonsense.

[Denny]

This bottom has been defined. Props to Ben for that one (not that it was solely him).

[Broncojohnny]

Wow, buyers swooped in and loaded up.

So many people bought Bank of America that my little graph can't display the scale. 479 millions shares traded and I bet half of that was after Uncle Ben spoke. Maybe 90% of it.

[AdamLX]

Side note: looks like the late day swoopers have shown up.

[AdamLX]

Or he is trying to do what he should have done this time last year and just offer lip service. The economy will recover fine if they just leave it alone and can shut up the idiot at the White House.

Buyers are definitely in the house. I suppose that is encouraging. Probably the hedge funds.

Going on Obama's essential disappearance over the last week I am hoping it's possible his strings have been pulled to just STFU.

[Denny]

Lol, or they're trying other avenues like changing their tone to impact interest rates or extending the average debt duration before launching QE3... It will be another 6 months before the impacts of QE2 can be assessed.

Roger that. It also allows everyone and their mother what to expect for the next two years as far as interest rates go. Have they ever done that?

There was no way in hell Benji would have said anything about pumping money this week. This is the best he could do without flipping everyone out. The guy does have a brain afterall.

Look at the indicies!

[Broncojohnny]

Fed's loss of confidence on the economy. Beji is throwing in the towel, basically saying that this economy needs help. No rate hikes for 2 years. We might have a good turn around, but my long is solid.

Or he is trying to do what he should have done this time last year and just offer lip service. The economy will recover fine if they just leave it alone and can shut up the idiot at the White House.

Buyers are definitely in the house. I suppose that is encouraging. Probably the hedge funds.

[slow99]

Fed's loss of confidence on the economy. Beji is throwing in the towel, basically saying that this economy needs help. No rate hikes for 2 years. We might have a good turn around, but my long is solid.

Lol, or they're trying other avenues like changing their tone to impact interest rates or extending the average debt duration before launching QE3... It will be another 6 months before the impacts of QE2 can be assessed.

[2K2 LS1]

Roller coaster ride of false hope in the DIJA today

[Denny]

The last hour will tell what sentiment is.

I can't believe that Uncle Ben didn't at least toy with the notion of QE3 in his statement. I fully expected that he would.

If the market closes with a gain today after the weak Fed showing, I think it will be a good sign of a possible bottom forming.

Fed's loss of confidence on the economy. Beji is throwing in the towel, basically saying that this economy needs help. No rate hikes for 2 years. We might have a good turn around, but my long is solid.