Market dumping further. This is a rare case scenerio as usually the Federal Reserve usually props it higher. There is no POMO today and it appears without that market support, the markets cannot hold their gains. In addition, traders are beginning to worry about how much QE2 the Fed will do. The market expects a big amount. Do they expect too much? The market is pricing in a little uncertainty today. Watch where this market ends today, do they push it up later today and save it, creating only a minor down day?
Today there is tons of volatility. Always fun to trade this.
