Bryan, I thought about that, and one of the reasons the Nasdaq went down on the first 1/4 point rate cut in 98 was because, many thought the 1/4 point wasn't enough.
This time, the cut was a 1/2 point.
Now maybe 1/2 point wasn't enough, but I can tell you what happened in 98, after that first rate cut in 98, the Nasdaq went down for like 7 days in a row.
This time, after the 1/2 point cut, the Nasdaq only went down 3 days in a row, so far.
So, was a 1/2 point enough this time??
Maybe so.
If not, then we may go down.
But, I think it was enough, at least for now, but I also think we need more, IMO.
Bryan, and you have to remember, after that first cut in 98, and after going down 7 days in a row, THAT WAS THE BOTTOM!! Check the quotes. Then, we had nothing but upwardness.
I am not saying that history is going to repeat itself, or that the bottom is in, but I think we are very close to the bottom, if we didn't already hit it.
And, if that 98 data is any indication of what will happen after the second cut this time......need I say more? |
