Fed cuts rates by 75 basis points in desperate attempt to stave off the inevitable. Unfortunately, when credit markets seize up, this is like pushing on a string. And, with the Fed Funds rate now at 3.5%, poor old Ben is almost out of bullets. I mean 3-4 more cuts like that and we’ll be at a record low FF rate. Then what? Yes, we may put in a short-term low and get a tradable rally (that’s nice). But I wouldn’t expect more than that.
That reminds, me, since this is my first semi trading-related post on the new blog, let me refer you to my Disclaimer page. This is for entertainment only, folks. You are on your own. If you want me to manage your money its the standard 2&20, with a minimum billion invested, locked up for 100 years. Cheers!