The Fed will CUT rates tomorrow morning.

Quote from capmac:

That's right folks, can't let this market tank for than a few percent...

:D


So those who are short, be careful.

:p
More...
Fed cut?
Unlikely

Encouraging speech? Likely
 
Future news story:

After a severe 0.4% sell off in the Dow yesterday, the Fed cut rates for the 16th time this year. The rate now stands at
-12.5%. No one has figured out what a negative rate is supposed to mean yet. All of the cuts haven't helped housing. Mortgage rates continue to rise as do foreclosues.

While Bernanke & Co. say that high oil prices and the falling Dollar aren't their concern, they did acknowlege oil reaching $180/barrel yesterday, as well as the EURUSD rate of 2.1450.

"We may have to stop cutting at some point, but for now, we'll intervene to help the markets at a moment's notice."

Stocks rallied on the news, as traders once again are holding out for more cuts. Trader Nazzy Deck noted, "The worst of the housing and sub-prime crises are behind us. They have to be, or we'll soon see negative numbers for home sales and new starts, and that's impossible. The economy is strong, no matter what the indicators say."
 
ben said housing was going to bottom by sept.2007, that was in jan.2007. you dont believe that ? do you ?

bgp
 
Can you imagine what the problem would be like if it was not "contained"?

Bernanke and Paulson should be fired for misleading the public/GROSS incompetence if this turns out not to be "contained" after all (silly doomsday scenario, I know)
 
Quote from MKTrader:

Future news story:

After a severe 0.4% sell off in the Dow yesterday, the Fed cut rates for the 16th time this year. The rate now stands at
-12.5%. No one has figured out what a negative rate is supposed to mean yet. All of the cuts haven't helped housing. Mortgage rates continue to rise as do foreclosues.

While Bernanke & Co. say that high oil prices and the falling Dollar aren't their concern, they did acknowlege oil reaching $180/barrel yesterday, as well as the EURUSD rate of 2.1450.

"We may have to stop cutting at some point, but for now, we'll intervene to help the markets at a moment's notice."

Stocks rallied on the news, as traders once again are holding out for more cuts. Trader Nazzy Deck noted, "The worst of the housing and sub-prime crises are behind us. They have to be, or we'll soon see negative numbers for home sales and new starts, and that's impossible. The economy is strong, no matter what the indicators say."
More...

I KNEW I shouldnt have gone short before the rate drop.....
 
According to the November Fed Funds contract, a 25 basis point easing seems to be a certainty. "No Change" or 50 will be a jaw-dropper.
 
Housing isnt even close to bottoming...especially here in South Florida. Rate of foreclosures still accelerating down here. Timberrrrrrrrrrrrr !
 
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