Bear market Rally. I believe it will last a bit further though till it hits resistance levels and peters out on the next negative economic data or negative market catalyst. Till then I will ride it out and stay with the trend. I will short it when I see signs it is running out of steam. An object in motions stays in motion....blah blah blah.....don't fight the trend....blah blah blah. oh yeah...almost forgot...to the op....you are out of your mind(or just have no clue whatsoever) if you think the fed is going to be cutting rates anytime soon. The economy would have to post some seriously negative gdp numbers for that to happen.
Told you so. We are going to Mars. This is a one way ticket. Jump into the rocket and go Long, long, long!!! Not only am I long. But I am leveraged long. Woohoo!!!
The poster is right. We are going up and to those who are in denial, well, continue to do so - you make my job easier and my account fatter. Too-ta-loo!
Good luck with your long positions after AIG's turd. I loaded up on the short side into the close today in just about every etf and index there is. These short squeezes happen because it makes it hard for newbies to get short, they get exuberant and confident, buy into the BS, then get run over with a bulldozer sell program the next day.
Absolutely spectacular!!! What a breakout. Now i am making real ass kicking dinero. To those of you who still don't get it - this market is going UP - bigtime.
You are a lost soul. I pity you. AIG did NOTHING after its gap down this week. IT WAS NOT A BIG DEAL.