Another sucker rally has begun. I think this rally holds till the close but should be in for another roller coaster ride. GL. Helicopters are swirling over head!
Would it not make sense to cut 50 this morning? Today gives him plenty of time before the next meeting in 12 days. It's right before he goes up to the hill to testify - that would ease the questioning and make him look like he's on the job. If he doesn't do it today and they hound him, doing it tomorrow morning makes it look like they pressed him into it. I'm not making a case for it nor am I certain it's necessary, but since he's baked 50 into the market and the turmoil continues he would need something to bring some stabilization. I would not be surprised if they moved 50 today or tomorrow.
Is it to easy to predict the market will be jammed up into the meeting and then fade? I just want to dump my long position into this clown. But is a repeat performance of last week too predictable? I don't think these schmocks cut today or tomorrow. It's too anticipated. More blood has to spill before a pre-nut cut.
The clown is going to harp on the same things, I don't know how dumb the bulls are, but I don't think they'll bite twice on the same POS. I agree that the intermeeting cut is pretty much out of the equation now that we have less than 2 weeks till the meeting. If he cuts now, it is totally blatant pandering to the markets and he should be fired for it. Market is at a crossroads, too oversold to short comfortably, and not enough fear and terrible fundamentals to buy without worry. I would sell rallies and buy dips. That's the only way to go from this point. We know the dips will be contained by the PPT.
Everytime he speaks everyone feels the need for him to just come out and cut interest rates which he is probably not going to do since they are meeting in only 2 short weeks. This creates more volatility and more tension within the market.