Will He or Won’t He QE III??
If you’re going to spend 5 minutes watching the markets today — personally, I can think of better uses of my time — the 
interval to watch is definitely 1:16 p.m to 1:21 p.m.
Why’s that?
Because Fed Reserve Chairman Ben Bernanke starts speaking at 1:15 p.m. today regarding the Fed’s intentions concerning QE III (“Quantitative Easing,” also known as “more stimulus”).
Buy the Rumor, Sell the News?
Just as with the earlier QE’s, the stock market has run up considerably in 
advance of the formal announcement.
If Bernanke doesn’t actually announce QE III this afternoon — or its scope is less than the market is anticipating — the markets are likely to react negatively.
Starting at 1:16 p.m . . .
P.S.: it’s not just stocks that have been rallying the last 4-6 weeks. So have gold, oil, and other commodities.
Such a flight to hard assets is exactly what you’d expect from markets anticipating even more Fed-injected liquidity (translation: printing money).
