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Was it really the ECB that moved the markets on Thursday?

I bet you agree that if you are in the trading game, you don’t fight the ECB, the Fed, the BoE or any other central bank (unless of course they tell you to sell). So what happened on Thursday? Seconds after the announcement of Draghi’s actions (and promises) the S&P500 and the EUR/USD faded quickly, but it didn’t take long for both markets to surge back higher to where they started. What happened in the meantime?
Please meet Mr. David Tepper: hedge fund manager and founder of Appaloosa Management (renowned for making comments that can shake the markets).

Last month Mr. Tepper spoke at one of the biggest hedge fund conferences of the year in Las Vegas, where he told the crowd: “I am nervous. It is nervous time.”. Quite a statement from such a big player. Wondering what that has to do with the ECB announcement, right? Well, evidence indicates that it wasn’t until Tepper announced that he is not scared anymore that US equities soared in a world of their own.


Source: zerohedge
I feel relieved now. It looks like all that’s left for Wall Street to do is sit back and get bored.
Dafni Serdari
Market Analyst

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The comment in this blog is the personal opinion of the contributors and not Intertrader.com. The content does not constitute financial, investment or tax advice. You are advised to discuss your specific requirements with an independent financial adviser prior to entering into any bet. Intertrader.com is not responsible and disclaims any and all liability for the content of comments written by contributors to the blog, and the content of any third party sites linked from this blog.

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