Ben just screwed himself and this market

Quote from der_kommissar:

An often quoted platitude that is an absolutely worthless piece of investment advice.

So when the market rallies on rate hikes, as it has often done in the past 10 years, yet falls on rate cuts, where does that leave you and your favorite quote?
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it's amazing that people bleat that quote, without even a glance at the track record

yes, the market does follow the fed, but with a HUGE lag, sometimes years
 
The sage advice leaves anyone who went long the open feeling pretty good right about now.:D


rate cuts may not stop a raging waterfall over the long run, but it sure helped to take that advice on the open this AM.
Just ask the shorts who took positions this morning on the expected Armageddon drop. Wait, don't bother them, they are busy doubling down for the end of day crash.
 
Quote from LT701:

this is a rare occasion that i actually agree with what the fed did

even though the action could backfire and fail (which would only add to the panic), he had to do what he could to make the market hold at what should be 'bear phase one', ie the may 2006 highs

below that, in the first 'wave', is really uncharted territory, arguably an uncontrolled crash
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Uncontrolled crash? The market was down 4.5% in the futures. That's a crash? Ok, if the markets went locked limit down 10-15% in disorderly markets, the Fed stepping in is understandable. But preemptive strikes to prevent the market from falling more than 5% is blatant market manipulation by the Fed.
 
Quote from crgarcia:

Don't fight the Fed, as simple as that.
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hmmmm, DISAGREEEEEEEEE


DOW is down over 2500 points since they started cutting rates.....


:eek: :eek: :eek: :eek:


wait, let me guess its an election year, so by what the stock traders almanac says its going to be an up year.

:p :p :p :p :p :p
 
Being long at the beginning of a rate cut cycle is the worst time to be an investor. When the Fed stops cutting considers raising rates, that's the time to get long.
 
this is great......now everyone will buy assuming the fed will bail them out with liquidity on every sell off...........

what ben should have done is said "i don't give a fuck about the stock market, i make my decisions based on current employment and inflation data
 
Quote from detective:

Uncontrolled crash? The market was down 4.5% in the futures. That's a crash? Ok, if the markets went locked limit down 10-15% in disorderly markets, the Fed stepping in is understandable. But preemptive strikes to prevent the market from falling more than 5% is blatant market manipulation by the Fed.
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even a terrible bear should not exceed the 'wave 3' bull high on the first wave down, it should only saw off the bull wave 5

there's a huge technical difference between holding and losing these levels on the first wave down, and i believe the fed knows that too. Notice they held their fire until EXACTLY that point?


(I think elliot wave is of extremely limited value, because some people look for it all the time even when it's not really there, but this is one of the few big picture places where there is some validity, IMO)
 
Quote from detective:

Uncontrolled crash? The market was down 4.5% in the futures. That's a crash? Ok, if the markets went locked limit down 10-15% in disorderly markets, the Fed stepping in is understandable. But preemptive strikes to prevent the market from falling more than 5% is blatant market manipulation by the Fed.
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the FED has to cut b/c if the Dow falls below 10k, then all hell will break loose.

over the counter derivatives tied to the performance of the indices would implode.
 
Quote from LT701:

it's amazing that people bleat that quote, without even a glance at the track record

yes, the market does follow the fed, but with a HUGE lag, sometimes years
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It's just par for the course (i.e. people want to have SOMETHING to say, without really saying anything at all).

Like cocktail chatter.
 
Quote from der_kommissar:

It's just par for the course (i.e. people want to have SOMETHING to say, without really saying anything at all).

Like cocktail chatter.
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kinda like pundits saying 'he's the maverick' about mccain

lol
 
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