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stephan |
| 01-22-2008 |
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It's Tusday January 22 and the Fed has just cut interest rates by 75 basis points to rescue the stock market and all that has happened is that stocks have moved up less than 1% after dropping 15% in the last 2 weeks. Now call me pessimistic, but whenever the knight in shining armour rides up on his steed to save the world and all he can acchieve is what looks like a minor fluctuation on the intra-day charts, I think its time to run for the hills. Let me put that another way, the Fed has just given it both barrells, the cut what unexpectedly early and unexpectedly large, and the S&P 500 futures have produced not even a dead kitten bounce...if that is not bearish then I do not know what is. |
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