12 replies to this topic

[ed rader]

I doubt it. They'll cut -in September. Any cut here would cause a panic, not a bounce, imho.

my guess is september at the earliest but maybe not even then.

ed rader

Edited by ed rader, 15 August 2007 - 11:01 PM.

[Pabst]

Today's rather benign inflation data coupled with a sell off in certain commodity markets will give the Fed more impetous than they had even two day's ago......

[thespookyone]

Spooky, they will cut it, but the market will have more blood bath first. 10% correction is not enough for a cut, 15-20%, sure. The first stop is 1388 and then the market will not stop before 1350 now...

Even this would makes only 13% decline, a lot of room to drop more...

Totally agree, Kisa. I don't think we've seen the type of panic selling that will provide a real bottom "yet", and think it's probably a lot farther away than most folks think, small bounces excluded. When the indexes broke out of the reverse symetrical triangles they were in, I thought they were in a continuation mode-and started to rule out a quick return to the bottom. Wish I had not second guessed myself at this point. Bottom of the RST's on these indexes is VERY low. I won't mention exact numbers, because the arguments spurred wouldn't be worth it. That said, I have had experience trading the fairly rare RST's and they frequently visit the bottom of the triangles after visiting the top-which we have done on the last run up.