Brokerages are booming, the consumer is spending, rampant commodities inflation, the dollar at historic lows---if the Fed cuts today I sure as hell am going to be interested to hear the rationale behind it.
Lehman was supposed to be one of the worst in terms of exposure to subprime. If they're doing okay, then what's the problem.
Foreclosures are up 100% from last month, but BBY is raising guidance. Tell me how that makes sense. Screw the mortgage payment, let's go get a Wii. ??
today is a very confusing day. how the hell did bby do so well with all the turmoil in august? are you telling me consumers ran out to buy flat screen tvs as the market was tumbling in august and people were scared of money funds? and it looks like leh barely scratched with all this. and throw in foreclosures on houses going wild. this makes no sense yet again. its crazy for the fed to lower
get over it. I was caught short in my lehman put spread this morning, and its over. This market is going up big.
No reason at all for a rate cut. They should keep their powder dry. Prediction...no rate cut...immediate pullback in the market, followed by rally.