Fed did the right thing by cutting Fed funds rate by 75 and discount rate by 75 basis also.
This will give support to US$...where I am long.....
This will also help fight inflation......as commodities will moderate when US$ firms UP.....
Market reaction so far was predictable...sell on the news...but reality is setting in and we are fighting back towards S&P 500 @ 1315 area +3.0%.......
This market wants to go higher........
So...position for bull tape !!!!!
BLOG does NOT give buy or sell.
Saleem
7 comments:
SALEEM
Hello my friend
My onlyt laggard is LDK
GS is off the charts $21.80 up so far!
RIMM and POT are moving up sharply
CHL I do not own-but it is up sharply.
Good day if you ask me.
M
Hi Madmax,
Never look @ individual stock...always look @ overall picture.....which gives you a better overall picture.
You are doing very well today...Prime Rib IS on the menu with Dom Perigon....
Thanks for IBD take & list !!!
Saleem
Is the tide turning.... all in all a good move by FED, what do you guys think?
Hi Troy,
TIDE...it IS high tide going northward......
Position accordingly in many stocks.
Saleem
TROY
WOW what a day I have never lived through such ups and downs
Looks ot me liek the market is going a lot higher from here, O'Niel form IBD was on CNBC and says hte bottom is in and up we go.
I believe that, I am sticking to it too
M
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Hi Smartphone,
Welcome to my BLOG from exciting Brazil.
Thanks for posting your BLOG address..i will visit your BLOG.
I am Glad that you like my BLOG.
Saleem
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