The bailout has failed to stabilize the market. With the election just a month away, Fed may throw a bone to the market in an attempt to calm it down. SPY is down 9% in just one week! Fed may be forced to cut this weekend instead of waiting for Oct-29 meeting.
yes they cut sunday night when BS went insolvent. im long at close today, if they cut sunday night im getting out and prob going short..
Fed will probably wait to see if Asia is getting up the ass Sunday to determine the size of the emergency cut (if any).
Maybe there will be worldwide rate cuts before markets open tomorrow. Coordinated cuts on the way? Technically, with the VIX sustaining these high levels throughout last week, we should be in for a bounce. But is the VIX on its way to 50 or 60 now? When we do get a bounce it should be a mean one. The major indexes all closed at or just below the weekly lower channel line. I'm sure Ben is sweating it out knowing that earnings season is here and the market hangs in the balance. I think if he doesn't cut this weekend, he will do it within the next two weeks. I highly doubt he'll wait until the end of the month.