there's something perverse going on. as indicated by fed.funds.futures, the markets clearly expected today's move, and as such it should have had no discernable effect. there might, however, be some "relief" being expressed that the fed did act as expected. (but had there been wide-held suspicions otherwise, the expected would not have been expected. ) we were previously told that today's move would depend on the data; we are told once again that future moves would depend on the data; we're all looking at the same data; where's the surprise?the fed did something the market expected
Daneboy said:Audrey - That's right the shorts are covering plus there's a hecka lota cash on the sidelines...
Tomorrow will be interesting .
dmpi said:As of Dec 31:
Dow 12000
S&P500 1346
Nasdaq 2300
Gold ETF (GLD) 42.00
Fed Funds Rate 5.25
Gallon Reg Gas - Nat Ave $2.75