It would be wise not to cut, but wither way, after a gratuitous head fake, the market will be strong on the close. Is mr. Gates ever wrong?
Well we got the head fake, is there any question that the positive close will come true now? This thread is mr. gates gift to ET, and last post.
Completely wrong. Market down (no doubt in my head since 11:11AM this morning (right at the top to remind you). I stopped her from moving higher. It is document in my thread.
Thank you Gates. Market strong into close I'm not sure about I went to super soccer stars with my kid up 120 and came back slightly down. Being that we are right at all kind of resistance this obviously is not a good thing. Often after a fed meeting there is as you say a head fake and the real direction of the market resumes after the first reaction ebbs.. and if friday's job number is good that is indeed what will have happened here. I'm sort of in that camp. In parsing the fed statement the risk to growth part being cut would indicate to me that they have seen the report in advance of it's release and they know it is strong... Then again it did make passing mention to increased pressure on unemployment... The truth is this is a pause whether the press or the fed labels it a pause because this is one of those extra long periods between meetings (6 weeks or longer!)... so it's how they announced the pause the street doesn't like today... but the concept is what they wanted... Perhaps the market wanted some signal about oil and the dollar the clear recognition that if we push one up (dollar) the other will fall... we didn't get that. What we did get should make people feel better- we got "we continue to believe that inflation will moderate"... well the problem there is, folks on the street and in the malls both are not believing that. And so it is on the topic of inflation, not the debt crisis, where Ben B may have his biggest crisis of confidence with the public. ~stoney