The Bernanke Signal

Thursday, January 17, 2008

If you haven't noticed, Bernanke has turned into a Forex signal.The market will rise, anticipating that he'll say something useful, or helpful, but then he actually starts speaking and we get a precipitous drop in prices.Of course, when rate cuts are announced we will get a momentary spike, but it will only be lasting if the rate cuts are deeper than the market has already built into prices.Keep