Two Ways To Play: San Fran Fed Chief Weighs In
Strengthen your portfolio in good times and bad.
Yellen said in a speech today: "Cleary, we have a long way to go before the credit crunch shows significant healing… we are in the grip of an adverse feedback loop" as tighter credit exacerbates further economic weakness.
Yellen said the Fed's actions have been helpful, "but the enormity of the crisis required more." She also added that the bottom is nowhere in sight and helping homeowners and the housing market directly is "worthy of serious consideration."
From the Bull Pen: Much respect for Ms. Yellen, but in the near term, the tape seems to want to go much higher. Near term target could be S&P 990. Consider a vehicle like the ultra S&P 500 (SSO).
From the Bear Cave: Professor Jeff Macke responded to my question about the high-end retailers like Coach (COH) and Tiffany (TIF). And in light of a gloomy holiday season, bears can consider these companies for a short-side attempt. Click here to read his comments on how he'd play these stocks.
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