Posted on 01/22/2008 5:03:46 AM PST by al baby
At DNC headquarters they got the streamers, baloons and confetti ready.
Not far off. They dropped rates .75 this morning but the futures still look grim. Maybe down by as much as 500 points.
You mean in addition to the 75 they just got?
Fed rates cuts today are just like putting Bondo on a car without first cleaning out the corrosion underneath.
IMO,the downturn can hurt you ONLY if you’ve a mind to sell or trade today or in the short-term. For the long-term investor, it’s a chance to prepare for the next wave of highs - a chance to buy cheap.
I suspose both are where the term “Taking it in the shorts” comes from???
well to be fair, the 75 just happened 4 minutes ago, not exactly a lot of time to have an impact
Fox & FRiends just reported that the futures look like they are correcting themselves. Still a long way to go, but better than two hours ago, that is for sure.
Acting forcefully against economic risk and financial market meltdown, the Federal Reserve cut its overnight lending rate by 75 basis points to 3.50%, the Fed announced Tuesday. It was the first time the Fed had cut interest rates between meetings since the 9/11 attacks in 2001.
‘looks like Fed stepped in...
Yes that is what I said, market wants ANOTHER 75 basis points.
This big downturn STILL needs to be played out.
The democRats are in charge
The dead cat bounce will be pretty hard to time I think. I personally don’t intend to get back into the market until I’m convinced all the major financials have honest balance sheets again. Gonna be a while.
Fed just cut interest rates 75 bp and the futures losses are cut in half from their limit-down lows.
Sorry Ben, it’s too late. And you panicked. We still haven’t had the big finale of a selloff where everybody is completely sold out. You’ve given people false hope and shown that you are another Greenspan.
Here’s a prediction: by the end of the day this rate cut will have had no net effect whatsoever on the earlier losses — all major averages will be down five percent.
DRUDGE IS SAYING THE MARKET COULD OPEN 500 DOWN OFF THE BAT THIS WOULD NOT BE GOOD AT ALL VERY VERY BAD
The 75 basis point rate cut is fine but we still need our $800/$1600 stimulus package.
Canned speech for the Chamber of Commerce. No help to the futures markets whatsoever.
Futures are based on buy or sell orders placed before the market opens for trading. That’s why they are called “futures”
Seatbelts on..
Prime rate cut from 4.25 to 3.5%.
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