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Don’t Cry Over Spilled 1%
For the second time this year, on October 8th, the Fed announced an emergency rate cut.
A man named Jeffrey Staut, the chief strategist at Raymond James, stated shortly afterwards, “This better work. This is the last chance.”
In the two days following, the Dow shed more than 1,000 points. True, it gained it back the following week (undoubtedly a result of short profit-taking and bottom-hungry purchases rather than real interest), but it has since shrugged off that attempt at fixing a much larger problem and we’re back where we were on October 10th.
Seems like we’ve had a lot of “last…
24Oct2008 | Oxbury Research | Comments Off | Continued
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