Jetlag Posted August 17, 2007 Report Share Posted August 17, 2007 THE FED DID NOT CUT THE FED FUNDS TARGET! The discount window is a little used facility for banks who can't get financing in the regular market. If you're a bank, and your depositors are making a run at you, what the hell difference does it make whether you pay 6.25% or 5.75% when you just don't have the cash to pay them. Meaningless gesture by the Fed with the intent of manipulating the market. In about 30 minutes a few smart cookies in the mainstream will be out there explaining this. And the smart cookies at the institutional trading desks know this very very well. They are getting out now while the getting is good. 600783[/snapback] Wow this guys have a knack to pick on OpEx, aren't some contracts closing at today's open price? Link to comment Share on other sites More sharing options...
Lemur Posted August 17, 2007 Report Share Posted August 17, 2007 So who's up for shorting this wild rally Link to comment Share on other sites More sharing options...
DrStool Posted August 17, 2007 Report Share Posted August 17, 2007 I have a 5 hr cycle projection on spy of 145.50. The top of that cycle is in. I don't know about the 3 day cycle projection. HAve to give it a few minutes. Link to comment Share on other sites More sharing options...
linrom Posted August 17, 2007 Report Share Posted August 17, 2007 Once the idiots wake up to that fact, the market will come right back down. 600780[/snapback] Maybe so, but, what appears to be going on is extraordinary: the powers that be have pressed the reset bottom on world ponzi finance and global economies driven by race to the bottom fiat global trade. HOLY COW, this is something that you talk about and think about, but, you don't really expect to happen. Link to comment Share on other sites More sharing options...
DrStool Posted August 17, 2007 Report Share Posted August 17, 2007 qqqq also hit its 5 hr cycle projection of 47 on the spike. Link to comment Share on other sites More sharing options...
dogsie Posted August 17, 2007 Report Share Posted August 17, 2007 Someone at Yahoo finance has a sense of humour: Canadian Dollar Mid-Month Curre (Philadelphia Options:^XCD) Edit Last Trade: 2.6163 Trade Time: 8:20AM ET Change: Up 1.6869 (181.50%) Prev Close: N/A Link to comment Share on other sites More sharing options...
DrStool Posted August 17, 2007 Report Share Posted August 17, 2007 Once the idiots wake up to that fact, the market will come right back down. 600780[/snapback] Maybe so, but, what appears to be going on is extraordinary: the powers that be have pressed the reset bottom on world ponzi finance and global economies driven by race to the bottom fiat global trade. HOLY COW, this is something that you talk about and think about, but, you don't rally expect to happen. 600791[/snapback] They haven't reset anything. THE DISCOUNT RATE IS MEANINGLESS, AND STILL 50 BASIS POINTS ABOVE THE FED FUNDS RATE. The discount window would only be used by those WITHOUT ACCESS TO THE MARKET AND THEY ARE STILL PAYING A RATE ABOVE MARKET. THIS IS A MEAN STUPID AND FUTILE GESTURE! It's a joke. Link to comment Share on other sites More sharing options...
patents Posted August 17, 2007 Report Share Posted August 17, 2007 Well here we are in the cool afterglow of the announcement and still no selling. Just the fed+21 doing their normal buying. Sellers given three day weekend. Perhaps Monday? Or could the sellers be called back into work today? Link to comment Share on other sites More sharing options...
FauxCaster Posted August 17, 2007 Report Share Posted August 17, 2007 I couldn't tell who said it, but someone on Crapvision said the FED did this at this precise time just to create a short-covering rally just like Rubin did with the currency intervention. Link to comment Share on other sites More sharing options...
Lemur Posted August 17, 2007 Report Share Posted August 17, 2007 Well here we are in the cool afterglow of the announcement and still no selling. Just the fed+21 doing their normal buying. Sellers given three day weekend. Perhaps Monday? Or could the sellers be called back into work today? 600795[/snapback] FTSE has gone really crazy in response to the news. Up about 3.4% now really hammering the shorts. Link to comment Share on other sites More sharing options...
Jetlag Posted August 17, 2007 Report Share Posted August 17, 2007 Well here we are in the cool afterglow of the announcement and still no selling. Just the fed+21 doing their normal buying. Sellers given three day weekend. Perhaps Monday? Or could the sellers be called back into work today? 600795[/snapback] This is clearly to destroy the value on the open Put contracts, maybe an important underwriter would go BK with another 2% down day. Link to comment Share on other sites More sharing options...
DrStool Posted August 17, 2007 Report Share Posted August 17, 2007 qqqq 3 day cycle projection 47. Link to comment Share on other sites More sharing options...
DrStool Posted August 17, 2007 Report Share Posted August 17, 2007 still can't get a good read on spy 3 day cycle projection. Guessing 146.50. Link to comment Share on other sites More sharing options...
patents Posted August 17, 2007 Report Share Posted August 17, 2007 They haven't reset anything. THE DISCOUNT RATE IS MEANINGLESS, AND STILL 50 BASIS POINTS ABOVE THE FED FUNDS RATE. The discount window would only be used by those WITHOUT ACCESS TO THE MARKET AND THEY ARE STILL PAYING A RATE ABOVE MARKET. THIS IS A MEAN STUPID AND FUTILE GESTURE! It's a joke. 600794[/snapback] In this world of smoke and mirrors, the issue is when the populace is going to wake up? When are things/facts going to matter? When that happens, then change truly will occur. Link to comment Share on other sites More sharing options...
DrStool Posted August 17, 2007 Report Share Posted August 17, 2007 Well, the players will believe whatever they want. When reality sets in, whether later today, or a week from now, there's gonna be one hell of a hangover. That's my guess. And I think it will come sooner rather than later. I want to see signs of exhaustion before I buy back the QID. I'm not thinking about going long, that's for sure. We'll see. Link to comment Share on other sites More sharing options...
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