So, in the end, who was supposd to be impressed by the cut? The dollar loses value. Dow jumps up. The Dow can run 150 points if Bill Gates gets laid. I guess I could advertise my house in the London Times.
Well, he was f'd if he didn't and he is f'd 'cause he did...the street expects a 50 point cut, dollar continues its slide...no cut and...well, 5%+ slide would have happened (not necessarily a bad thing though)
looks to me like we will make a double bottom in the usd....not much more to cut. better he made the cut sooner than later. the bubble is in gold at this point. we have been in a bubble mentality for quite awhile, and personally, with 96% gold bulls, who is left to buy? it will keep going for awhile, but i have stood aside when i though market mania was coming to a head.
EURO/USD: Yea i was hoping to see a push to test that 4970-5000 high in Euro today....looks like we got a top in place at around 4900.