No QE3 Tomorrow - Plunge Protection Team Doing "Good Enough Job"

[gunDriller]

5 Year Dow Chart -

http://2.bp.blogspot.com/-8Hao6Vxr9MA/T4WbzoUwcKI/AAAAAAAANz0/EwaJcNUeUYs/s1600/Dow.jpg

4 Year S&P 500 Chart

http://3.bp.blogspot.com/-2vY5Zf6WAFo/TZue2EMU3EI/AAAAAAAAKHM/EWBaONjtFWc/s1600/SP500QE.jpg

QE1 was pre-announced in late 2008, & officially announced March 18, 2009, when the markets were panicked, right at the tip of the spike down.

QE2 was announced in November 2010

"November 3, 2010: FOMC Statement: $600 Billion QE2 announced."

http://www.calculatedriskblog.com/2011/04/qe-timeline.html


Look at markets today. S&P 500 @ 1350 - down 10% from its all-time high.

Dow @ 12,800 - also down about 10% from its all-time high.

For this they officially print money ? It would be a major break from past policy.

Even if the Fed is printing like mad behind the scenes, they want to maintain the illusion of being judicious & slightly hawkish.


Therefore, I predict, no QE3 announcement tomorrow, followed by a dip in PM prices & buying opportunity.

Also, options expiry is next week, often a catalyst for 'back-up-the-truck' moments.


June 26 Comex July silver options expiry
June 26 Comex July copper options expiry
June 26 Comex July silver futures last trading day
June 27 Comex June gold futures last trading day
June 27 Comex June copper futures last trading day
June 27 Comex June E-micro gold futures last trading day
June 27 Comex July E-mini copper futures last trading day
June 27 Comex July miNY silver futures last trading day
June 27 Nymex June palladium futures last trading day
June 29 Comex July silver futures first notice day
June 29 Comex July copper futures first notice day
June 29 Nymex July platinum futures first notice day

http://gold-silver.us/forum/showthread.php?29390-Metals-Calendar-Futures-Options-Dates/page3

[madfranks]

If they do a "QE3", they might not even call it that. Remember "operation twist"? I think that the whole term "quantitative easing" has taken a negative connotation in the mainstream, so I suspect there are plenty of ways the fed can keep the fresh money coming without "QE3".

[EE_]

Why would they need QE3?
Stock market is rolling, homes are selling and with mutiple offers, unemployment is falling.
I think the official statment by the Fed will be they are standing ready if things turn down.

I've been watching real estate in places like Florida and it looks like a sellers market again.
I've been wanting to buy a rehab project and it's getting hard to compete with investors.
Prices have gone up significantly too in the past several months.