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IDS World Markets Wed 8th October 08


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#31 Trader Joe

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Posted 08 October 2008 - 06:16 AM

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

#32 Charmin

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Posted 08 October 2008 - 06:31 AM

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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#33 TURK

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Posted 08 October 2008 - 07:07 AM

Fed cuts interest rate .5%
"Damn, the price of this stuff jumps around alot!"
Hokahay October, 2008

"Analyzing the spot price of gold is akin to analyzing the output from a randon number gereator." -ancient chinese proverb

#34 An Ant

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Posted 08 October 2008 - 07:09 AM

Fed cuts interest rate .5%

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Also Canada, England, ECP, Sweden, Swiss

Spoos jumped some 50 points

Nasty some 60 points

#35 astral mike

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Posted 08 October 2008 - 07:09 AM

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.u...ess/7658958.stm

#36 Lemur

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Posted 08 October 2008 - 07:11 AM

Fed cuts interest rate .5%

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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.

#37 An Ant

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Posted 08 October 2008 - 07:13 AM

Also Canada, England, ECP, Sweden, Swiss

Spoos jumped some 50 points

Nasty some 60 points

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Nasty lost some 32 points in few minutes.

#38 Lemur

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Posted 08 October 2008 - 07:18 AM

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.

#39 T_Slim

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Posted 08 October 2008 - 07:20 AM

wow. the emperor really has no clothes. This must have just happened. they yen crosses went beserk and now coming back down.

#40 Yaryman

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Posted 08 October 2008 - 07:26 AM

Didn't see the speech, did Bernanke mention inflation being a problem
like Cramer is ranting he did?

#41 T_Slim

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Posted 08 October 2008 - 07:29 AM

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.

Attached Thumbnails

  • pound_yen.gif
  • eur_yen.gif


#42 Sudaca

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Posted 08 October 2008 - 07:31 AM

So if this doesn't work, what next ? :ph34r:
Thanks, David

#43 T_Slim

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Posted 08 October 2008 - 07:34 AM

So if this doesn't work, what next ?  :ph34r:

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Imperial troops enter the base :lol: :ph34r:

#44 I_Am_Madness

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Posted 08 October 2008 - 07:36 AM

So if this doesn't work, what next ?  :ph34r:

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Another 50 more tomorrow? :mellow:
Stop the Madness

#45 Sudaca

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Posted 08 October 2008 - 07:40 AM

Aw man, what a frickin day for an effin holiday down here. I may have to go to the office (&/ $(/&"$ )/&".
Thanks, David





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