Trader Joe Posted October 8, 2008 Report Share Posted October 8, 2008 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 Link to comment Share on other sites More sharing options...
Charmin Posted October 8, 2008 Report Share Posted October 8, 2008 Japan down 9+ % ! ... Good Lord have mercy on us all. 697206[/snapback] 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. Link to comment Share on other sites More sharing options...
TURK Posted October 8, 2008 Report Share Posted October 8, 2008 Fed cuts interest rate .5% Link to comment Share on other sites More sharing options...
An Ant Posted October 8, 2008 Report Share Posted October 8, 2008 Fed cuts interest rate .5% 697228[/snapback] Also Canada, England, ECP, Sweden, Swiss Spoos jumped some 50 points Nasty some 60 points Link to comment Share on other sites More sharing options...
astral mike Posted October 8, 2008 Report Share Posted October 8, 2008 The Bank of England has cut interest rates from 5% to 4.5% in a shock move. The decision was not expected until tomorrow. The US Federal Reserve has also cut rates from 2% to 1.5%, while the European Central Bank trimmed its rate from 4.25% to 3.75% http://news.bbc.co.uk/1/hi/business/7658958.stm Link to comment Share on other sites More sharing options...
Lemur Posted October 8, 2008 Report Share Posted October 8, 2008 Fed cuts interest rate .5% 697228[/snapback] 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. Link to comment Share on other sites More sharing options...
An Ant Posted October 8, 2008 Report Share Posted October 8, 2008 Also Canada, England, ECP, Sweden, Swiss Spoos jumped some 50 points Nasty some 60 points 697229[/snapback] Nasty lost some 32 points in few minutes. Link to comment Share on other sites More sharing options...
Lemur Posted October 8, 2008 Report Share Posted October 8, 2008 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. 697231[/snapback] 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. Link to comment Share on other sites More sharing options...
T_Slim Posted October 8, 2008 Report Share Posted October 8, 2008 wow. the emperor really has no clothes. This must have just happened. they yen crosses went beserk and now coming back down. Link to comment Share on other sites More sharing options...
Yaryman Posted October 8, 2008 Report Share Posted October 8, 2008 Didn't see the speech, did Bernanke mention inflation being a problem like Cramer is ranting he did? Link to comment Share on other sites More sharing options...
T_Slim Posted October 8, 2008 Report Share Posted October 8, 2008 glad I took profits on my pound and euro yen shorts. You can't hold onto anything in this environment. I might just be done for the day too much news noise moving these markets. Link to comment Share on other sites More sharing options...
Sudaca Posted October 8, 2008 Report Share Posted October 8, 2008 So if this doesn't work, what next ? Link to comment Share on other sites More sharing options...
T_Slim Posted October 8, 2008 Report Share Posted October 8, 2008 So if this doesn't work, what next ? 697237[/snapback] Imperial troops enter the base Link to comment Share on other sites More sharing options...
I_Am_Madness Posted October 8, 2008 Report Share Posted October 8, 2008 So if this doesn't work, what next ? 697237[/snapback] Another 50 more tomorrow? Link to comment Share on other sites More sharing options...
Sudaca Posted October 8, 2008 Report Share Posted October 8, 2008 Aw man, what a frickin day for an effin holiday down here. I may have to go to the office (?&/ $(/&"?$ )/?&". Link to comment Share on other sites More sharing options...
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