Fed credibility? You call Greenspan's reign of saving markets and moral hazard and bubble building as credibility? Bernanke is bad, but Greenspan was the worst Fed chairman ever. He never realized the consequences of his actions, only the short term effects that it would have in soothing market psychology and busting up the shorts. Taking rates down to 1%, and keeping them there for a long time created much of this mess. He never did anything about increasing margin on stocks to stem the tech bubble, and the Greenspan put, aka LTCM, Jan 2001, etc. all built up an expectation that markets would always be protected with rate cuts when they went south, regardless of the current economy.
ES Journal Archive (2006 - 2008)
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Fed credibility? You call Greenspan's reign of saving markets and moral hazard and bubble building as credibility? Bernanke is bad, but Greenspan was the worst Fed chairman ever. He never realized the consequences of his actions, only the short term effects that it would have in soothing market psychology and busting up the shorts. Taking rates down to 1%, and keeping them there for a long time created much of this mess. He never did anything about increasing margin on stocks to stem the tech bubble, and the Greenspan put, aka LTCM, Jan 2001, etc. all built up an expectation that markets would always be protected with rate cuts when they went south, regardless of the current economy.
remember algos...understand its mostly a machine given agenda...
There were ups and downs during his tenure - '87 to '06 - but overall the US economy grew tremendously during that period. Nearly everyone's pissed about the way he took rates to 1% and left them there but he also got us through several crises, including the '87 crash. To characterize his performance as nothing but bubble building is false, IMHO.
"Moral hazard" is a joke. There is no morality in money and markets. Trying to right wrongs via Fed rate policy is misguided at best.
intent
zoomed in...learn to draw the:
1) support and resistance lines
2) trendlines
3) stops cluster at 1.2
1) support and resistance lines
2) trendlines
3) stops cluster at 1.2
look at the strucutre behind the price action... its all painted by algo's...
rule of 10 close signal is $.
But who the hell was brave enough to take it ?
But who the hell was brave enough to take it ?
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