The Rate Cut Didn't Help. Trading Was Halted @ 4 AM. WE'RE ALL GONNA DIE!

jlew24asu wrote:

atta boy. I knew you had it in ya. and yes I know how you feel about the fed but the market would be down 650 points had they not cut this morning. its a crazy game we play.

650 is an understatement. I was thinking more like 1100!

Yeah.
The fed "did it's job" ... now we are faced witht he unfortunate, "what's next?"

Interested to see what existing home sales say on Thursday ... could be a major downer.

:fingers crossed:

Jesus H Christ.
So, today we get the blow out we were gonna see yesterday.
:rolleyes:

Ah we're fucked.

:eek:

jlew24asu wrote:

only mr doom and gloom can dwell on something negative in the face of one of the greatest rallys in recent memory. pity.

I did say, "Was that a bottom?" followed by ":D"
Which in my own quirky little way was acknowledgement and a mild level of comfort in the fact of this rally\"bottom".

You know damn well though, as you admitted above, that this was by-and-large a FABRICATED rally. The market swallowing their "unexpected" *emergency* rate cut, AND swallowing their desert ... the .50 they get at the planned meeting.

But why do they get it? Because they know they "deserve" it. Right? Like the spoiled little kid that throws the tantrum knowing it gets the candy?

Hey i don't blame the market ... it is just participating in a viscious circle of familial violence. The only thing it knows ... something it was taught by its abusive father ... the Federal Reserve ... the creature that created "the market" ... or at least ADOPTED it ... but old dad just kept giving Junior more allowance than it he deserved, knew what to legitimately do with, and which he eventualy became corrputed by. Junior starting getting involved with shady business because that kind of risk is easy to take when the money comes easy to you in the first place ... until the day you get busted ...

... of course dad only can take so much of the blame, even if he started it.

What the hell am i getting at?
Fuck. Basicaly i'm glad there is a rally, but it is an illusion, and even the floor traders were on CNBC today saying, "a bottom? I mean, i don't think its ... no ... i think we will see some more movement, if that's what your asking" ... oblique type references to the obvious, "har har ... of COURSE this isn't it ... hang on to your hat!"

I'm still not sure you understand what we are ABOUT to get in to here. We are 100 miles inland and a category five JUST hit the coast line, and you are saying, "Relax ... this is the nicest breeze we've had in a while!"

Yeah. It was a great rally ... which came AFTER one of the biggest down days on the books ... and like i said, THIS is JUST THE BEGINNING!

Remember September? Remember how relatively calm that was ... and then it picked back up again a month later?

This thing is going in waves of market tolerance and public awareness. Nothing is changed under the surface. It is still an ugly ugly ugly credit driven NIGHTMARE! And someone keeps throwing stitches at a hemmorage about to explode!

I'm not being alarmist, or fearmonger ... i think the events of recent weeks, if anything, PROVE what i have been screaming since Summer.

If we somehow (by FUCKING MAGIC) manage to get out of this without serious compound fractures and head injuries everywhere ... well i hope there is room for me in that naive fantasy ...

... the reality is this is going to get brutal come 2nd and 3rd quarter, and 2009 through 2010 ... we are engineering one of the biggest busts in history.

Here is a headline that says a few things about reality:
The US Federal Reserve came under sustained attack from some of the world's most powerful and influential economic figures last night for its failure to prevent the build-up of financial stresses that threaten a severe world downturn.



I respect your opinion a lot, Jlew, but i think your view is myopic and obtuse all at once.

I hope we don't get to the point of bread lines, food rations, and gasoline by first letter of your last name days ... and maybe THAT is fearmongering ... but we sure aren't about to go back to even 12500 on the Dow and just sit there fat and happy for three years.

The markets will tumble and roil violently for months (maybe years) ... and lots and lots of shit will hit the fan.
The dollar will take it long and take it hard.

No rate cut or otherwise, it will take it in the ass.
Government bailout = massive massive massive inflation.

Newest fearmonger prediction:
US Dollar Index hits 69 by the 4th of July.
I hope i'm wrong.