Investors waiting for ben bernanke press conference august 09 2011 ; Traders are obviously pinning their hopes on US Federal Reserve chairman Ben Bernanke, who is due to hold a press conference after the Fed's latest committee meeting. There are some commentators hoping he will announce a policy of further quantitative easing - QE3 - but even if he does not go that far, any signs he is softening up the market for such a move might be welcomed.
Bloomberg News reports that by a 52% to 48% margin, respondents in a survey expect "the Fed would ease policy this year through monetary tools or statements. If the central bank acts, 59 percent said it would communicate that the federal funds rate, balance sheet or both will remain especially stimulative for a longer period or more specific amount of time." Read Bernanke press conference june 7 2011 in Atlanta.
Words from Bernanke that the Fed is going to print will send investors scrambling to buy the market at these levels. Greed will once again be a force in the market.
There will also be fear too, as investors will be scared of missing one of the best opportunities of getting in the market since early 2009 and after the so-called Flash Crash of May 2010.
Investors keep waiting for the splash but it hasn't come yet. And it won't come until greed returns and the market starts seeing bids again.
Stocks tanked in Asia and have tanked in Europe on Tuesday. There are signs that we might be near a bottom -- Germany's DAX, for instance, closed up approximately 300 points from its 52-week low earlier in the session.
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