Well two officials speak at separate events on Monday! See that aricle I last posted. Cramer's list of events this coming week. The Fed does not actually meet until 21st-22nd, i believe ( week after this coming week).
"Monday: Fed president speeches, United Natural Foods
Cramer expects Atlanta Fed President Dennis Lockhart to call for a rate hike on Monday. Things could get even worse when Minneapolis Fed President Neel Kashkari speaks in the afternoon, as he could also say the U.S. needs a rate hike."
I DO expect further drops... Because there is no telling what those FOMC reps will say on Monday! Eeeeeeek!
.... Any thing any of them say individually, at any time (like what happened this past week ---Friday drop caused by Boston Fed talk--
Dow logs nearly 400-point drop as rate-hike fear grips Wall Street - MarketWatch), has major impact on market.
Just goes to show how very sensitive the market is to Fed Reserve opinions or actions. Pretty scary when you think about it. Then again, market also did not like that ECB did not further ease their monetary policies more, which disappointed markets on Thursday....
European Central Bank Stands Pat as Draghi Defends Policy: Live
I can now only hope that Federal Reserve does not actually raise rates the following week.
Two choices for me:
--exit Monday or Tuesday and take the big loss and have no ability to enter at bottom as I will be out of IFTs for September,
OR
--stay in and be ready to take even more punishment and hope I can buy in with my remaining 35% at a BIGGER bottom (and hope I can spot the bottom) and hope for no rate increase and that market then resumes upward! Crap!!
So what say you? Option 1 or 2??
Hooe you are having a Great Weekend! Best wishes to everyone on your investments!!!!!!! :smile: