Imminent and severe market correction

[Trembling Hand]

And we are Off the moon

 

[reece55]

Breaking news on Bloomberg TV - emergency rate cut of 75bps

Deflation here we come.......... Just throw money at it, it will go away....

Dow up 200 points very quickly, lets see how we go.... I would be selling into the rallies......

Cheers

 

[Santob]

US Fed resever has cut interest rates from 4.25% to 3.5%
Link

 

[Trembling Hand]

And we are Off the moon

Or not.

 

[wayneL]

Or not.

LOL

Freakin' amazing.

 

[lesm]

LOL

Freakin' amazing.

The pullback from the initial reaction has been interesting to watch

 

[Trembling Hand]

LOL

Freakin' amazing.

Did I stay up for that Fart in Cyclone?

Everything just rolled over again. US, UK, Forex, Metals.

Wayne can you ring up Ben and organise another .75 off in about an hour?

 

[Whiskers]

Or not.

Don't worry, the market will show some 'appreciation'.

 

[lesm]

Did I stay up for that Fart in Cyclone?

Everything just rolled over again. US, UK, Forex, Metals.

Wayne can you ring up Ben and organise another .75 off in about an hour?

Wayne, better ask Ben to make that 1.5, it might last a bit longer next time

 

[ithatheekret]

Now what will they do at the meeting scheduled ?

The Fed just winced and blinked . Total stuff up , that cut should have come on Thursday or Friday last week , watching the futures retrace now .

Well at least they flattened one curve , albiet the two year .

The spikes will be sold off with all likelihood , cuts don't make up for credibility lost , not when there held back for a touch of icing , we just seen a novice and an apprentice stumble .

 

[Kauri]

interesting little story just popped up upon mine screen... make of it what you will
Cheers
.........Kauri

S&P Outlook; Fed Cut Leaves it Up to the Big Players The Fed has cut the fed funds rate by 75 bps - just in time - to be able to go to Davos for some tea and crumpets with a smile. Certainly Big Ben could not have gone to the conference without cutting rates lest he might have been subject to bodily harm.
The bounce up to 1300 for SPH has been sold into and has participants worried that much worse is yet to come. To say that sellers are in control is a laughable understatement, but at least the Fed's action has likely arrested the selling from panicked real money longs. That leaves the big specs as the only real sellers and in looking at the levels we wonder who wants to short the indices here. Indeed SPH is nearing the 2006 low of 1219, while the July 2006 low is at 1231. The big question is where are the big real money players - the mutual funds etc which do have tons of cash but no confidence right now. They have a score to settle with the aggressive hedge fund shorts who are now very, very short.

 

[dhukka]

Now what will they do at the meeting scheduled ?

The Fed just winced and blinked . Total stuff up , that cut should have come on Thursday or Friday last week , watching the futures retrace now .

Well at least they flattened one curve , albiet the two year .

The spikes will be sold off with all likelihood , cuts don't make up for credibility lost , not when there held back for a touch of icing , we just seen a novice and an apprentice stumble .

Yep, they look silly now, just like a pack of panic merchants.

 

[Trembling Hand]

interesting little story just popped up upon mine screen... make of it what you will
Cheers
.........Kauri

Not a bad sum up of where we are at.

 

[Wysiwyg]

we just seen a novice and an apprentice stumble .

Ben Bernanke (occupying hot seat)

On leaving high school in 1972 he enrolled at Harvard College, where he spent his undergraduate years in Winthrop House and graduated summa cum laude with a B.A. in economics in 1975. He received a PhD in economics from the Massachusetts Institute of Technology in 1979. He taught at the Stanford Graduate School of Business from 1979 until 1985, was a visiting professor at New York University and went on to become a tenured professor at Princeton University in the Department of Economics. He chaired that department from 1996 until September 2002, when he went on public service leave. He resigned his position at Princeton July 1, 2005

Sheesh, hope he wasn`t surfin the Huntington pier in the time off.

 

[chops_a_must]

Anyone game to short AMBAC when that giant short squeeze ends?

 

[Kauri]

Not a bad sum up of where we are at.

and to possibly sum up the future... so to speak..

Fed fund futures and budgies are already looking for another rate cut pricing in over a 50% chance of another 50 bp when the Fed meets this month. Strange as it may seem, if the Fed cuts, it would probably bring mortgage prices right back down to levels needed for refinancing ARMs, helping relieve the burden on the ninja mob et al. The bulk of them ,strangely once again, come up this quarter... believe it... or not.
Cheers
..........karlu

 

[Gundini]

No rate cut can stop this....

 

[ithatheekret]

To be honest I was rather worried , today I bought LGL and OXR ..... and a tad more than the standard 10% allocation . This is not normal for me , I prefer the hard asset , it doesn't have to compete with a margin . Another 50bps would seal that entry nicely though

VIX into 33 those options will be cranking .

 

[ithatheekret]

I'm amazed at the amount of people that think the 75bps emergency intermeeting cut is a good signal . It smacks of desperation to me and the Fed just choked at the wicket . Bring on Poole for the next Fed Head .

 

[Gundini]

I'm amazed at the amount of people that think the 75bps emergency intermeeting cut is a good signal . It smacks of desperation to me and the Fed just choked at the wicket . Bring on Poole for the next Fed Head .

That it does, though with all the red of late, I think the punters are just enjoy some downtime....

You must be pleased with your 15% pickups from OXR and LGL...

Ben has done you well....