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Plan for ‘Disappointment’ From Bernanke: Analyst

Federal Reserve Chairman Ben Bernanke won’t likely announce a third round of quantitative easing, Wells Fargo equity strategist Gina Martin Adams said Tuesday on CNBC.

“I think we’re more likely going to be disappointed than really excited by what Bernanke has to say. The precedent set by 2012 so far is a lot of talk, not a lot of action, and quite frankly that’s working with the housing market numbers,” she said on “Fast Money.” “It’s working for Bernanke.”

Adams said it was time to go defensive in a market that was “a little too excited about QE” and faces a lot of policy risks in the next six months.

“The consumer’s doing OK. The market is testing its 2012 highs, and we’ve had a pretty good first half of the year. Inflation is right around 2 percent,” she said. “I think the Fed case to do QE3 is pretty weak right now.”

Trader disclosure: On Aug. 28, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders: Joe Terranova is long VRTS; Joe Terranova is long SBUX; Joe Terranova is long WFM; Joe Terranova is long AAPL; Joe Terranova is long CSTR; Joe Terranova is long CHKP; Joe Terranova is long EMC; Joe Terranova is long NXPI; Pete Najarian is long AAPL; Pete Najarian is long C; Pete Najarian is long JPM CALLS; Pete Najarian is long INTC; Pete Najarian is long YHOO; Pete Najarian is long SBUX; Pete Najarian is long FB; Pete Najarian is long MSFT; Pete Najarian is long PEP; Pete Najarian is long MCP; Jon Najarian is long call spreads in AAPL; Jon Najarian is long call spreads in JPM; Jon Najarian is long call spreads in CFN; Jon Najarian is long call spreads in JNPR; Jon Najarian is long call spreads in XLF; Jon Najarian is long call spreads in GLD; Jon Najarian is long call spreads in SLV; Jon Najarian is long call spreads in FB; Jon Najarian is long call spreads in ERY; Jon Najarian is long call spreads in GOOG; Jon Najarian is long call spreads in TOL; Jon Najarian is long call spreads in LEN; Jon Najarian is long call spreads in PSX; Jon Najarian is long CME; Jon Najarian is long CBOE; Jon Najarian is long GLUU; Jon Najarian is long STSI;

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