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Politics : Welcome to Slider's Dugout
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From: Nihontochicken11/28/2007 11:27:48 AM
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Looks like a bounce in the broad markets, apparently based on sentiment favoring a Fed rate cut:

stockcharts.com

Seems to be a repeat of the August bottom. Yup, Fed's gonna cut, so broad markets up today, dollar is up, gold is down????? Uh, how is this supposed to work again???

NC :o/

P.S. - On Bubblevision, Rick Santelli at the CBOE is the lone voice in the wilderness, arguing ardently that the Fed shouldn't cut, that such cuts don't affect the basis of the credit crunch and only serve to help the banks make money, and should be held back for when the economy really tanks. He was out-shouted by Steve Liesmann and others saying the rate cut medicine is needed right now. At the end of the heated exchange, Santelli muttered, "You guys ought to trade for a living." ;o)
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