Open Thread: How About That Fade . . . ?
Mr. Market got the 50 bps he wanted -- and after a brief 250 point run up in the Dow, gave just about all of it back.
The excuse du jour was that its the traders fault blamed a Fitch downgrade of FGIC, or WIlliam Ackman's comments that MBIA and Ambac each had much bigger than reported losses. Maybe it was the report that S&P may lower or cut $534 billion of subprime debt.
Regardless, the gains were all spit up by the bell.
Question: Will markets rally on this cut, or is the Fed pushing on a string? Y'all discuss this, while I go out for a few drinks. (play nice)
~~~
What say ye?
Wednesday, January 30, 2008 | 07:00 PM | Permalink
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Wow, WTH(hell) glad I did not take a swing trade position on that one, yeah the bulls should'a got a rally, but there just seems to be overwhelming downward pressure at este' momento!
Posted by: Steve | Jan 30, 2008 7:08:51 PM
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