Gold Price Monitor Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold Price Monitor

GDXJ 101.44

+3.5%

Nov 12 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Stephen O who wrote (75392)	8/21/2001 5:52:54 PM
From: Rarebird	Read Replies (1) of 116756

The Truth really hurts. Investors were very disappointed by the Fed statement accompanying the rate cut. In a statement accompanying its decision to cut short term interest rates by a quarter of a percentage point, the Fed indicated it may not be done cutting rates for the year, saying it still is concerned about the sluggishness of the economy. "The risks are weighted mainly toward conditions that may generate economic weakness in the foreseeable future," the Fed said. That statement lead to a negative reaction in the markets. Markets are waiting for positive signals from the economy and from companies. Investors are looking for signs that the recovery is on and the worst is over. The Fed's willingness to cut interest rate further was a positive. But the Fed's statement regarding the state of the economy was discouraging. If the Fed can cause such a sell off by merely stating the Truth of the weak state of the U.S. economy, then I think we are in for lots more selling moving forward, as new economic data comes in, confirming the Truth of the Fed's statement.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next