Wednesday, January 30, 2008

Look at the dead cat bounce

God, that looks like a dying man briefly having a seizure, and then going back to dying.

The Fed made its second interest rate cut in 8 days - 1/2 point - in an effort to stimulate things. The market responded by suddenly shooting up, and just as quickly shooting back down.

On a day when the interest rate was cut by half a point, the market actually had a slight LOSS.

That's not good.

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