Looks like the Novices were easily fooled to sell today on 2 headlines.
Stocks slipped Wednesday after a senior Fed member said policy makers should start raising rates to 1 percent soon. Stocks had been lower for much of the day but pared some of their losses after the 10-year Treasury auction was met with strong demand.
I am laughing my butt off at the novice people that sold on this weak bear news.
First off rate hikes come to a vote and 1 person does not win.
Secondly its not a shock that the treasury demand was strong because leading up to the auction the rate on the 10yr treasury climbed all the way up to 4% just so they can have strong demand.
People were not enticed with the 3% yields they were offering previously.