Emergency Action by the Fed within 24 hours... Posted at 9:30 AM on 9/11/08
Those who have been reading my blog for a long time remember this post back in March…
“Emergency Action by the Fed within 24 hours... Posted at Noon on 3/10/08”
I was right that time (I believe it happened in 20 hours) and I think I will be right this time as well.
I realize the biggest bailout in history just took place on Monday of this week. (Freddie and Fannie)
The Fed and would have liked to at least wait until next week for another crazy action but with stocks falling like this they will step in and try to create another bear market rally. Who knows if it will succeed at this point?
How much easier would this market be to trade if the Fed didn’t step in every time we started tanking? Trading in our new USSR is difficult indeed.
Funny joke for you (the funny joke posts seem to get a lot of recs…)
9/11/08 9:00 AM
“Shares of Lehman Brothers (LEH) have been downgraded after analysts digested the investment bank's preliminary third quarter results announced yesterday. The stock was moved to Hold from Buy at Citigroup this morning. Goldman Sachs also lowered shares of LEH to Neutral from Buy.”
Good job guys!!! Take a stock I have been shorting since the $60’s and FINALLY take your “Buy” rating off it once it hits $4 a share. Can I please have your jobs you overpaid monkeys?