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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Box-By-The-Riviera™ who wrote (350180)	12/3/2007 7:14:18 PM
From: Secret_Agent_Man	Read Replies (1) \| Respond to of 436258

Jesse noted this weekend: I don't know if this is a correction in a new bear market, or a resumption of the reflationary rally. But, sharp multiday rallies of 2+% are a hallmark of bear market declines. What has me off a bit is that the Fed did something new this week. They showed a panic, they did a 180 based on some information they received, that we have not seen. They pushed the button, and started executing a pre-planned program designed to avert a looming financial crisis. I doubt what spooked them was macroeconomic data. I really doubt it was anything like GDP, or unemployment, or even Christmas sales which are not going well. Some financial giant is spewing smoke from the cracks in its financial calculations, and the wobbling had the Fed heads staring into the abyss, shitting their pants. jessescrossroadscafe.blogspot.com