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IDS World Markets Wed 8th October 08


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The Fed takes Trader Joe's advice as posted here a couple of weeks ago....

 

 

The Federal Reserve said it will bypass ailing banks and lend directly to American corporations for the first time since the Great Depression, and it hinted strongly at further interest-rate cuts -- a cocktail of unconventional and conventional remedies for an economy whose prognosis is deteriorating rapidly.

 

wsj.com

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Japan down 9+ %  !  ...  Good Lord have mercy on us all.

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I can guarantee that shock is going to set in today among many of the guys I know in their early retirement years and who still believe it's coming back. They're gunna actually have to bring themselves to sell at some point and admit they were BOB'd.

 

The baby boom is going bust.

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Futures went nuts. Nice stop run on gold after the announcement. I faded the move and am in the money now. Was a nice opportunity to get in.

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But not happy I got shaken out of most of my longs yesterday. Still have some GG and CHK calls but had to bail from much larger long positions. They sure dont make it easy to catch these moves even if you guess correctly. Well at least I have made a little money since Monday.

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