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Non-Tech : bipolar, schizaffective & schizophrenia people

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From: Davy Crockett	8/17/2007 3:31:34 PM
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closed my shorts today & the hedgies in the RRSP. Many stocks bounced at 200 day sma. The rationale is this: Longs are trained to buy at the 200 day sma (support) & shorts are trained to cover @ the 200 day sma. Also many stocks have produced short-term hammers. The Fed moved today to lower the discount rate which has fueled the rally on short-covering & value investors have moved in to buy stocks 'cause they think they are undervalued. I'm in cash & will wait to see what next week brings. I had a good run:) By no means, do I think this is over. Volatility will continue. Currency markets are a mess & the sub-prime market debacle keeps getting deeper & now the contagion is in commercial paper. & to top it off consumer confidence has been shaken as the housing market continues to sink in the US The question is: Does the FED have enough weapons in their arsenal. Only time will tell...

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