How far $7.5 billion will go in dealing with structural issue...NOT far ??

Futures lit UP last night @ 10......

So...I checked the news......and found Abu Dhabi is parting with $7.5 billion for an stake in Citi.

It is a "ray of hope in a long drawn-out battle of dealing with credit fiasco"

Cit Market cap is north of $150+ billion.....

Fed put more than $7 billion into the system yesterday and markets promptly thanked by tanking the market to its lowest close......in a long long time......

Credit issue is the biggest issue which I have observed in the last 40 years of investing/trading...

Credit issues & market malaise will be solved by aggressive moves by fed and by new emergency legislation.....not by "sissy steps of $7 billion here and $7 billion there"

Markets need "capitulation instead of drip drip DOWN move @ close"

Too many traders are still "not getting it...and are comfortable with their weak stocks.....bargain or value will not cut it this time"

Long term investors should ignore all of my strategy as they are in it for "long haul".....actually they should be "aggressively buying good stocks on fire sale"

Today @ 10 AM consumer confidence will come out.......I do not expect any reprieve there either.......

Keep an eye for fed action which "will matter".....fed has a tendency to wait one day too long.....

I am sure BB is contemplating major attack on this issue...as evidenced by Bond rates.....

I will sell my QID in anticipation of fed move.....which may be determined by today's close......

What traders have to understand.......markets will not change...unless it is given a reason to change...only Fed has the catalyst.......

I will be watching close again...and will take a cue from there.....

US$ is UP thanks to Abu Dhabi buying $7.5 billion worth of US$ to buy their stake in Citi....so my short in Canadian $ is working great this AM.....

I am holding 89% cash...ready to pick bargain once I feel this slump has run its course...today's closing may give that signal...I hope...

Gold is down big....

Oil is down......

So...you may say what $ UP,Gold & OIL down...what that has to do with market...a whole LOT...

So...we are moving closer to some kind of FIX for this market.......

Good luck on your OWN strategy for short or long term positioning.

BLOG does NOT give buy or sell.

Saleem