I agree with ya. You know, I also used to think the S&P was going to fall to 1,200 or lower. I really doubt it now for a number of reasons (too complicated to get into here) but basically.... 'The Market' seems to have these periods where it squeezes the Fed by the balls, and of course the Fed cries uncle again and again. This won't change.
The worst? What was bad about today? Up and running? I didn't know we were down, figuratively speaking (as you were with that statement).
It was pretty bad. All my limit buy orders were hit at pricing done two weeks ago. Today, bought IBM, GE, CVS, AAPL, MMM, NKE, DE at near session lows, except AAPL. Never seen seven limit buys all execute on one day. Geez.
He has his head up his ass. Just look at the fed minutes. This is because the fed did not act correctly. If they do not cut at least 50 basis points, bulls (or semi-bulls) are fucked.
went long today as well...any bounce will take the dow back to 13000-13200. All long positions I took today which were all ETFs will be sold when the Dow is back above 13k.
inflation is running high. oil continues to peak. no way the fed can lower rates. if he does he'll be flushing the economy (or the rest of it) down the drain, not the mention the currency which is already there. sit tight. the us will enter in recession this year and the indexes will have to adjust the new reality .
It's not in the FED's mandate to ensure the continuity of the bull. Believing it is just wishful thinking. S&P may be heading for 1250 no matter what the FED does. I wish you best of hope