Jim, RE: "I am surprised people seem to be giving little heed to the 1/2 point increase today. The cost of money is very, very important, and it is going up, fast."
Ok, so it took a few days for it to sink in. The current dump should be of no surprise to anyone. Well, I take that back, as most "investors" get their news from things like CNBC, so they are unable to perform cognitive reasoning.
As for the FED maybe cutting rates in the fall, I don't think I would take that bet right now. This is a day by day market, and needs to be treated & traded as such.
It will dump & bounce back, as always. However, the trend is a slow decline. And the high fliers are still ridiculously priced.
A good time for making money, this is....I must say that the majority of put options are becoming expensive & overbought, calls are the opposite, (cheap & oversold) so factor that in to your thinking.
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