That's it the recession has started. The fed crawled out of window in the building and cut rates to 75 basis points while the market is burning the house down. By the end of the year the rate might be 2.0. Bet is they cut 50 basis points next meeting.
I don't know what possessed me to do this but I closed my short position at 205.52. I'm waiting till things stabilize and will re-enter short again but I'm assessing the market right now as well. This guy was cracking me up all morning on Bloomberg with his high pitched animated voice. Anyway any suggestions on shorting pound/yen?
I shorted at 209.13 and quickly regretted it but was able to get out at 208.92. Pound has been too bullish. I might even go long even though I'm long term bearish. In the long term pound will go down. I'm thinking by around Thursday a clearer picture will develop.
Bloomberg is cracking me up again... Earlier this morning they had this guy on with a high pitched whimpy voice now they have this guy on that sounds exactly like Arnold S... They had the whimpy guy on like 3 times in the morning when the dow was crashing it was funny as hell.
There he is, Laszlo. Man he talks like a whimpy 8 yr old. Hilarious! I can't wait till Arnold sound-alike comes on for Bloomberg.