Out all longs before the FED QE4 announcement today. Seem it was a non event but perception is everything is the upcoming days. Today was also a very light volume day and I am wondering if the fiscal cliff news is overshadowing the QE4 news.
Let's be honest here QE1,QE2,QE3 didn't do much but artificially inflate prices in the marketplace. We are still in an environment of declining margins, high employment and massive government debt and non the the QE plans help alleviate those top issues.
I don't think big money will do much till the new year as it is very dangerous to take any positions here more than a short trade.
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