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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 686.10-0.5%4:00 PM EST
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To: Clint E. who wrote (33094)6/27/2001 2:22:53 PM
From: Johnny Canuck  Read Replies (2) of 70438
 
14:15 ET Fed Goes 25 BP : FOMC reduces overnight bank rate by 25 basis points, not the 50 bp hoped for by many investors. Equities retreat (Dow +5, Nasdaq +4).

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Interesting reaction, initial sell down and now re-bounding. The spin may be that the economy is not as bad as expected. I don't think this last though. The focus now shifts to earnings and so far they look worst than expected and not turn around is in sight.
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