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Weekly Market Recap Mar 17, 2019

TedTed
in Fund Discussions
FYI: A very good week for market bulls as the prior week’s selling was all reversed. Last week we asked how many times can we rally on the same Federal Reserve juice. It seems indefinitely. Jerome Powell went on ’60 Minutes’ and talked dovish – that sparked a big rally Monday and it continued all week. The only down day all week was Thursday when the progress on the U.S. – China trade deal seemed to hit a delay.
Regards,
Ted
https://www.stocktrader.com/2019/03/18/weekly-market-recap-mar-17-2019/

Comments

  • hank
    edited March 2019
    Ted said:

    FYI: A very good week for market bulls as the prior week’s selling was all reversed ... Jerome Powell went on ’60 Minutes’ and talked dovish – that sparked a big rally Monday and it continued all week.
    Regards,Ted

    That’s what Ted said today.

    Here’s what Ted said last week: “@MFO Members: The 60 Minutes interview was a complete waste of my time.. It was billed as a conversation between Powell, Yellen, and Bernanke. Powell didn't say anything new, and Yellen and Bernanke were nothing more than window dressing. Regards, Ted:( P.S. I'm canceling my subscription to TV Guide !”. https://www.mutualfundobserver.com/discuss/discussion/48151/powell-yellen-bernanke-to-appear-together-on-cbs-60-minutes-sunday
  • Old_JoeOld_Joe
    Well, consistency was never one of @Ted 's strong points. Especially with a completely different rule set for himself and everyone else. (In fairness, I guess Ted is consistent in having two different rule sets... that's another way of looking at that, I suppose.)
  • hank
    edited March 2019
    Old_Joe said:

    Well, consistency was never one of @Ted 's strong points. Especially with a completely different rule set for himself and everyone else. (In fairness, I guess Ted is consistent in having two different rule sets... that's another way of looking at that, I suppose.)

    What’s funny here is that Powell’s interview is given credit (by Ted’s citation) for halting a declining stock market and “sparking” a big rally. Yet @Ted didn’t find anything of consequence in Powell’s remarks when he watched. Could be he was preoccupied posting links instead of listening to the Fed chairman.

    Personally, I thought the entire interview was staged to help Powell stand up to Trump’s criticisms and (implied) threats he might fire Powell. That, I think, is why the 2 former Fed chairs were seated with him. “Window dressing” yes - but with an underlying message to the President and to the public.

    If you missed the interview, Powell was asked whether the President could fire him and answered in strong terms that “The law is clear” that Trump could not.
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