market up on senator Shumer comment

Discussion in 'Trading' started by NY_HOOD, Jan 16, 2008.

  1. Sen. Schumer says Bernanke told him U.S. fiscal stimulus needed, Fed would be supportive - Reuters
    Sen. Schumer says Bernanke won't endorse specifics, but quick, well-designed plan could have positive effect - Reuters
    Sen. Schumer says stimulus package won't pass if it includes extension of tax cuts that expire in 2010 - Reuters

    its politics getting in the way of the markets again. i think it would be healthier to just let it fall and shake out all the bs instead of artificially holding it up when its going fall anyway. just my 2 cents.
  2. Market is up due to shorts covering from being affraid of a possible emergency rate cut.
  3. The democrats idea of a stimulus plan is to give a rebate of a few hundred bucks to everyone but raise taxes. So they want to waste billions on rebates, which have zero supply side effects, then repeal tax cuts, which pulled us out of the last recession. Brilliant! It won't happen, but look for plenty of demagoguery over the issue.
  4. i agree,they covered shorts but they started covering as soon as Shumer made those comments. who knows? just thought you guys would have wanted me to post that since it was reported by bloomberg.
  5. Now we sell off hard after going below the open.