Friday, June 8, 2012
Reiterating last month's warning of what to expect with Venus retrograde "The markets enter an ever- changing environment of unpredictability. Since Venus rules money, it is possible that the Federal Reserve Board goes back and forth on decisions made as it revisits and reevaluates past polices."
Yesterday's opening rally and the disappointing close is an example of that. Within minutes of the opening the Dow industrials were over 150 points higher than Wednesday’s impressive 287-point gain. This was the result of the news of China’s central bank's decision to cut interest rates for the first time in four years, and the hopeful anticipation of Fed Chairman Ben Bernanke to announce QE3 in the near future.
However Bernanke failed to outline any new stimulus plans and within an hour of the close, profit-taking took back almost all of the early gains.