how many hours until fed cuts?

fed cuts won't cause any change in the credit spreads (which are impacting the mortage market). Why? The fed has already flooded the markets with $$$ - we are already at 4.51 overnight !!!

The only thing that can save the market (if it needs saving as you say) is a govt program to start buying mortgagebacks and/or guaranteeing lesser quality debt.

Otherwise, this is a correction, and sanity will prevail, probably by next week.

Lets hope for 1550 by options expiration September !!!!

 

Sell-off, correction, carnage, melt-down, call it what you will, looks far from being over.

 

<i>"The only thing that can save the market (if it needs saving as you say) is a govt program to start buying mortgagebacks and/or guaranteeing lesser quality debt."</i>

Who pays for that? Does it come off the top of our next war budget for Irag/Afghan fiasco?

<i>Otherwise, this is a correction, and sanity will prevail, probably by next week. Lets hope for 1550 by options expiration September !!!!</i>

Would that be September 2008 or 2009?

 

Looks like it was 40 hours. Not a fed funds cut but close.