Taper, No Taper… the Bubble Must Go On!

Ben Bernanke speaks today, and the markets are aquiver. Will the Fed taper? Will it not taper? If it does taper how much will it taper?


Stocks have entered a blow off top from the wedge triangle we’ve been following for the last few years. If the Fed does not taper today, we’ll likely see a blow off top begin. Traders are hungry for a reason to push the market higher into year-end (thereby ending the year with the highest possible returns).



Alternatively, we could see a small taper today. We now know that Janet Yellen will be the next Fed Chairman. The question remains who will be the Vice Chair. The frontrunner is Stanley Fisher, the former Central Banker for Israel.


Fisher is urging a small taper begin immediately. He then suggests gradually increasing it.


But then again, Janet Yellen, who will be the next Fed President is a raging dove and believes that QE should be done forever. So it’s a toss up.


All I can say with certainty is that stocks are in a dangerous position. They’ve been in one for a while now and the higher they go the more dangerous it becomes.


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Best Regards


Phoenix Capital Research





via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/2k47cP-MAlc/story01.htm Phoenix Capital Research

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