Thursday, December 26, 2013

Post taper stock market actions

"I'm not surprised that the stock market took off, that the dollar got that strong, that gold fell [after the Fed taper]. Once the announcement was made, those actions were pre-destined."

"Within seconds of the announcement... I had no choice - I had to come in and buy more stocks and reduce any hedges I had and make certain that the long positions I had in the dollar, I've been very bearish on the yen -- were increased."

There was no question an abundant part of yesterday's panic buying [was due to] people saying 'Oh my word I'm short, I'm wrong and I have to get out'...Some of the smartest guys I know have been short the market all the way up and I've seen more of that than people being long the market.