Fed ends 6-year effort to stimulate economy

[GummyBearz]

If this goes down as reported, there may be a massive stock market correction tomorrow. Of course the big banks already know and probably positioned themselves to make money off it.

God help the ~65ish year olds with 403(b)'s and a financial adviser who convinced them to keep all their savings in stocks.

Personally I believe a correction needs to happen. I just wish it wouldn't overly punish the individual investor after all the huge investment/trading banks got bailed out. I am very interested to see what happens tomorrow.

http://money.cnn.com/2014/10/29/news/economy/federal-reserve-ends-qe-bond-buying/index.html?hpt=hp_t2

[NRaleighLiberal]

1. I think it is already priced in - Nikkei is up, and US stocks said "ho hum" at the end of the day

but who knows?

[GummyBearz]

3. Half agree

The "already priced in" thing has historically held up, I agree with you there.

However, the foreign markets never lead the way... they always follow the US markets. Tomorrow's opening could be really crazy.

[NRaleighLiberal]

4. there we go - Dow up 130 plus near noon.

[GummyBearz]

5. Yep

My crystal ball was wrong again. I still think stocks are way way over priced. Only time will tell though

[NRaleighLiberal]

6. they could be but I hope not! retired here, and hoping the 401K continues to grow

since I can't contribute to it any longer!

[GummyBearz]

7. Congrats I envy you

But being retired already, you really should start transferring some of that savings from investments that have large fluctuations, like stocks, and put it into more steady investments

[NRaleighLiberal]

8. I am only 58 and need the value to grow - I probably won't absolutely

need to get into it for several years yet (if my books sell well, maybe longer - the great unknown).

I have a really good financial adviser who is managing the various funds well, and we are in regular contact with respect to risk, my age, and where it is and should better be.

[Rex]

2. What could go wrong on Oct. 29th?