And no more “we’re going to have a Crash 2.0″ nonsense today.
AND OMG APPLE iPAD!!!!!!! iPad? Really Apple? Did you do any research on the name? Still, looks pretty shiny.
Nothing opened or closed.
Month to Date:
My ports: -9.9%
Brokerage: -2.4%
BBE Overall: -4.9%
S&P -1.6%
% of Targets reached: -122.6%
I’m screwed ratio: 47.1 to 1.7
Market still seems undecided as to whether or not this was what it wanted…
75/75
Markets not particularly happy at the moment – but who really expected a full point?? Not wanted – realistically expected?
Way to go FED!
and the VIX is on it’s highs for the day – folks seem to be getting nervous… Guess that 94% chance of a 50 point cut we saw just a day or two ago isn’t so sure anymore…
Not necessarily fixing anything, but we’re down 161 at the moment, off the lows of off ~500 down.
However, we still have margin calls this afternoon – we shall see how the day ends.
We still need a plan for the bond insurers.
European markets got POUNDED on fears of recession in the US economy.
Now that we’re screwing up other countries markets, I cannot think of a better reason to bring forth the “substantive additional action” that has been promised by the Fed. Lord knows if I were in London, I would be seriously pissed off at the lack of Fed intervention that has caused my market to drop over 5% in a day. (Or over 7% in Germany.) US futures are very, very red today.
The time to take action has long since passed, but it is not too late to at least get started getting this mess fixed. We need to show the world that we’re not going to hang them all out to dry. The timing is perfect – emergency teleconference today or tonight, then a pre-market announcement tomorrow.
50 points tomorrow morning, 50 at the meeting.
It would be a start.
What I am more concerned about is continued silence on the part of the Fed. They would prefer to see domestic and global markets crash than actually do something because it might look like they are bailing out Wall Street. Very, very shortsighted as far as I am concerned.
I guess we’ll know tomorrow.
and at this very moment, the market ain’t liking it – but the first 5 minutes are always the ugliest.
Should all be shaken out by the time I get back from the vet.
50 basis point cut on the Fed Funds AND the Discount Rate!
