Boy that was a Bad Day for CNBC
Due to what I perceived as an exaggerated reading of the FOMC statement Wednesday and knee-jerk market reaction, we got a quick note out to our Twitter followers advising that the initial drop in stocks should reverse and that stocks would rise into the close Wednesday, which they did. My Twitter tweet to followers:
Don't get lost in CNBC noise - This was a DOVISH statement-Fed did NOT act. We rally into close and reverse initial trade $SPY $QQQ #Fed
— Markos Kaminis (@WallStreetGreek) October 28, 2015
Sector Security
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Wednesday’s Activity
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PowerShares DB US Dollar Bullish (NYSE: UUP)
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+0.8%
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SPDR Gold Trust (NYSE: GLD)
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-0.8%
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SPDR S&P 500 (NYSE: SPY)
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+1.1%
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SPDR Dow Jones (NYSE: DIA)
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+1.1%
|
PowerShares QQQ (Nasdaq: QQQ)
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+0.8%
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iShares Russell 2000 (NYSE: IWM)
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+2.9%
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Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.
Labels: Editorial, Editorial-2015, Editors_Picks, Editors-Picks-2015-Q4, Market-Outlook, Market-Outlook-2015-Q4