"Kick the darkness till it bleeds daylight." - Bruce Cockburn
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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