... because it is starting to hit and there is lots more where this came from :
Suing the Buyer's Agent
Looking at the results of Black Monday in Asia and Europe, followed by Grey Tuesday and the Fed rate cut early this morning (which immediately caused a rise in the FTSE), I'm curious as to the effect in ten minutes when the NYSE opens.
While it may seem like a kindness for the Fed to lower rates and stave off total chaos for the moment, there is little doubt in my mind that any relief to the market will only last long enough for some of the bigger and higher rollers to cover their positions.
As my youngest said last night, "Somebody is buying..."; that is true. But I doubt there are any genuine "bargains" in the market today. If you didn't unload the risky stuff two months ago, this morning will be too late.
Five minutes to the bell. This is going to be instructive.
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