The market took a beating today after the Fed Meeting, as investors were pricing in a .50 rate cut. I believe the Fed should have cut rates sooner and faster, and I believe many investors felt the same way. We have a huge financial crisis, and all we only get a measly .25 rate cute every meeting? Stop the bleeding already! Just cut the damn rates.
Check out a few charts by Stewie.
It seems to me, we will see sideways action for the rest of the year, with many investors setting up for '08. I really don't see a huge year end rally forthcoming. Put a fork in it, '07 is done!
This is fine by me, I hope we sell-off. I want more stock, and I want it cheaper. I will focus on a select group of stocks and cherry pick when I feel necessary.
My list includes: AAPL, STP, BWLD, MA, NVDA, ICE, RIG, & Mr. GOOG.
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2 comments:
I'm looking for lower prices too. But I'm hoping to find them overseas. Should be interesting to see what happens in those markets tonight.
I think the Fed did the proper move - today's decline was based on expectations, not reality and I don't think it will last. A recession is widely predicted, but hasn't taken hold yet. I think the Fed was right to keep the powder relatively dry. Say they had lowered by .50 today, just to please the market - and real economic conditions continued to decline through January. How much leeway are they going to have to continue to keep lowering rates then? I think lowering the rate should be in response to actual economic factors, not market expectations
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