The Market On Wednesday

  Good morning. It is a foggy 41 degrees here in Upstate NY. In case you are wondering Fall officially begins this year on Sunday. Ah oh Summer, my friend, how I will miss you and how I will welcome your steamy hot return. I have 'The Power Of Habit' on my night table -



  At 8:25 a.m. ET DOW futures are flat and the price of oil per barrel is up. The market is poised to open slightly higher.

  Investors will be all ears later this afternoon as Bernanke will announce the probable beginning of quantitative easing tapering. The taper is in, it's like a tape worm, sort of. Anyhow, how will this effect us? I suspect but am not certain, that IRA's, investment accounts, 401k's and such will probably but not definitely slim down.

CNN: Stocks: It's taper time!

The central bank is scheduled to release a statement at 2 p.m. ET following the conclusion of its latest policy-making meeting. Fed chair Ben Bernanke will then hold a press conference at 2:30 p.m. to discuss the Fed's latest assessment of the economy and its plans for the future.