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The CEO is low on his estimate.

And, by the way, this afternoon float up before the annoucement seems to tell me that today will collapse if it's not as anticipated. I wish I had bailed today before noon, but I'm still in.

Got to hang on. It's going to be a roller coaster ride in about half-an-hour.
 
:mad: OW! Market pouting that they didn't get .50, hope its a short term snit. It's the first time they've drummed on the expectations and the Fed didn't move - which in the long term I think is a good thing because market shouldn't expect to get its way every time.
Discount rate cut only .25 too, on that I think .50 was a better idea....

FOMC Statement
http://www.cnbc.com/id/22203361
 
This is really nothing to worry about - the Fed will return in two weeks into the markets and reduce the discount rate again. And then do another 25/25 at the January meeting. Regardless, rates are still coming down. I'll remain satisfied.
 
Wow--definitely buy the rumor and sell the news on the rate cut. Will we see the typical close near the low today with some more weakness tomorrow?
 
Briefing.com: 3:05 pm : Some choppy action as investors continue to be disappointed with the 25 basis point cuts. From their peaks reached shortly before the FOMC announcement to their current levels, the Dow, Nasdaq and S&P 500 have dropped 257, 56, and 33 points, respectively. The 10-year note has rallied, pushing its yield below 4%.
 
The lower the close today the better - then tomorrow we take it all back. Interest rates are in a process and that process may take some time. Be right and sit tight. We are going much higher once the dust settles.
 
I think we're going back up too, but it may not start tomorrow. I'm guessing we will see some more weakness for a day or so. The most bullish case would be a big gap down opening tomorrow morning. That will flush out some of the excess optimism that has been building over the past 2 weeks. I knew expectations were getting a little out of hand when 2 of Marketwatch's headlines said one expert predicts Dow 15,000 and another says Dow 20,000 in the near future. And then I saw Cramer predicting a 1,000 point gain in the next couple of weeks. That kind of talk inevitably precedes a big down day.
 
ContrarianJeff said:
The most bullish case would be a big gap down opening tomorrow morning.
Click to expand...

I'm thinking we're going to see a nice big exhaustion gap down tomorrow as well. The media should be pumping the recession talk for us big this week. Outlook=Bullish.
 
I think its critical to see some bounce, tomorrow/Thursday, or at least rest of week sideways!

I'm concerned about what appears to look like a classic "MA" pattern!! - a solid Bearish Pattern.
This is apparent in SPX/SPY and NAS, etc (conventional charts).

If the right side of the "A" is is now in the the process of forming - which it looks like it is - then we're looking at going a LONG, LONG WAY DOWN, in short order (in completing the right side of the "A" pattern!!)
There are some tech analysts that could make interpretation that the "A" has as already formed, -and we have passed this, but its a very troublesome concern.

Really appreciate any advice if any folks really knows this type chart-pattern analysis! :worried:
We should all hope the week goes at least sideways! (if not up some).
VR
 
Last edited:
TOKYO, Dec 12 (Reuters) - Japanese wholesale prices rose at the fastest pace in more than a year in November from a year earlier, mostly on high crude oil prices, but the data did little to alter views that the Bank of Japan will not raise rates until late next year.
The inflation figure was higher than expected, but market reaction was muted. Stock prices fell and bond yields rose on disappointment over a 25-basis-point interest rate cut by the U.S. Federal Reserve, which was seen as less aggressive than some had expected.

http://www.reuters.com/article/marketsNews/idINT1226120071212?rpc=44
 
I think technicians will see a classic head and shoulders pattern forming, especially in the Nasdaq. And seeing a bad case of dandruff, some folks will be selling. But I think this is a fake-out, nothing more than a healthy pull back from very overbought conditions. And thankfully, sentiment will take a hit. I don't think we will see more than 1.5% to 2% more downside before we get a nice pop up.

http://stockcharts.com/h-sc/ui?s=$COMPQ&p=D&yr=0&mn=10&dy=0&id=p08823811199
 
Well, the Fed got a lashing from the markets and the Jim Cramers on the Street, so they are now repenting and boosting liquidity. Futures have popped up big-time, but I don't like it. At first glance, I'd say this big gap up following a big down day is just begging to be shorted. The most bullish case I could envision was a big gap down at the open, and now we are getting the opposite. I'm going to have to study this, and I may change my mind, but right now I'm tempted to remain on the sidelines. (I'm in no way a Fed basher, but my respect for the Fed is diminishing with every one of these panic moves.)
 
WASHINGTON (AP) -- The Federal Reserve announced Wednesday it is coordinating with other central banks to deal with the global credit crunch.
The central bank said it had reached an agreement with the European Central Bank as well as the Bank of England, the Bank of Canada and the Swiss National Bank to address what it termed "elevated pressures" in credit markets.
http://biz.yahoo.com/ap/071212/fed_credit_crunch.html
 
Despite the injection of liquidity designed to help banks (and encourage them to loan to one another), banks are actually down right now for the day. The BKX is down about .5% right now. As the piggies go, so go the pokes. That's not a good sign.
 
I wanted 400 points up and since I'm not proud I'll settle for 41. It will happen one of these days.
 
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