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Two Ways to Play: Bernanke Goes to Washington


Strengthen your portfolio in good times and bad.

Ben on the Hill Today

All eyes are on Fed Chairman Ben Bernanke today when he gives his semiannual report on monetary policy before the House Financial Services Committee at 10 a.m.

The two-day testimony will cover a wide range of topics, most importantly unemployment and how the Fed intends to wind down stimulus programs. Investors will also be watching for any hints of the Fed raising interest rates later this year. Just last week, fed funds futures were pricing in about a 100% chance for the Fed to hike its benchmark rate to 0.5% by November, though that probability has since receded.

From the Bull Pen: For those leaning bullish, consider Research In Motion (RIMM) on a backtest to its 20-DMA ($67.30). A sell stop can be set below that level.

From the Bear Cave
: Careful of being short US treasuries. If Ben hints at monetizing mortgage-backed securities as some suspect, bonds could rally big. Wait for the noise to play out and watch the Ultrashort Treasury ETF (TBT) around first support, $46.50.

For more ways to play and other trading ideas from more than 30 top market pros, take a free trial to our Buzz & Banter.

A Quick Check Around the World

Asian trading closed with the Nikkei -1.48%, India -0.19%, Hang Seng -0.75%, Shanghai 1.33%, and Taiwan -0.89%.

Across the pond, we see the FTSE 0.25%, CAC 0.06%, DAX -0.08

As of 8:20 AM EST, S&P Futures are trading +1.50 to 1098.75. Nasdaq futures are +4.500 to 1805.50.

A Look at Commodities

Over in commodities, crude oil is -0.18 to 78.69 while gold is -08.50 to 1094.70 this morning. Silver is -0.133 to 15.780 and copper -0.0185 to 3.2160.

The dollar Index is -0.0700 to 80.8400.

On the Radar


10:00 New Home Sales: 350 k consensus
10:30 Crude Inventories

Click here for the full trading radar.

Good luck today!
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No positions in stocks mentioned.

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