sailorPremium
join:2003-10-21
Long Island
kudos:6
4 edits | reply to sailor
Re: Stock Market Crashing...down 330 points right now said by sailor:After seeing where CFC closed today ( $22.02) » finance.yahoo.com/q?s=cfcbeing a trader and leaving out all emotions, I would have shorted them at the close today....1,000 share short but I didn't and I won't because too much BS going on. There are much better opportunities to trade right now than this fiasco. With CFC closing today at $19.31, as I expected would have been a great short to pick up a quick 3k or so by covering the short at today's close.
»finance.yahoo.com/q?s=cfc
But I haven't traded anything lately..The market should be on its way to a 1000+ point tumble from here but out in The Hamptons, the Wall Street honcho's and Hedge Fund managers aren't even breaking a sweat while they sip champagne out of miniature bottles due to the word out there is the fix is in.( The Fed to cut rates)..I, for one, hope they don't cut rates as that is what really helped get us in this current mess in the first place but today it is all about the rich getting richer and the poor (and middle class) getting poorer. 
The market should be allowed to correct on its own but with our 4-5 year fiasco in Iraq and Afghanistan a total mess, expect the administration to avoid letting the market tank as well as avoid at all cost talk about the economy and housing by using yet another diversion by ratcheting up the talk about the other boogie-man, Iran.
We shall see how this plays out. If a rate cut is imminent, the only question is will they wait until after Labor Day for the Hamptonites to get back into the city or will they make a surprise announcement tomorrow or sometime this week. |
