bet you this market falls in the next 20-30 mins....this rally will not hold.....I could be wrong though haha
Hope anyone with a short bias was well hedged. Also search specter's posts. There is one where he talks about trading these types of events, helped me see clearly today (thanks Specter)though I came within a tick of being stopped out on the head fake.
Congrats everyone. There are simply no negatives left. From here on, I see a minimum of 100% upside in the indexes with zero risk.
You had to know the day President Bush strode the floor of the NYSE we weren't going to have a down day. Nor were we going to have a surprise fed move! It all looked vaguely end of days ish as the roar became louder and louder and all the greedy white faces pressed to get a glimpse of that great symbol of American might and mite. That being said I think it's a mistake to gloss over the speech he made today. That's the speech I've been waiting for him to make I don't know why he REFUSED to do it when it counted as we rode into mid term elections... but trot it out they did , a summery of all the good Bush perceives he has done to the economy and because the writing was so good it was a powerful speech. It actually made you feel like America was thriving, then you quickly remember the whole wealth disparity issue, and the looming financial crisis of baby boomers retiring and the war in Iraq and it doesn't feel so good. But for one shining moment capitalism was all the rage again.