Edited by Sentient Being, 31 August 2007 - 11:19 AM.
From what I hear of the Speech, No Bail Out
#1
Posted 31 August 2007 - 11:16 AM
~ Johann Wolfgang Von Goethe ~
#2
Posted 31 August 2007 - 11:22 AM
Edited by BigBadBear, 31 August 2007 - 11:24 AM.
#3
Posted 31 August 2007 - 11:24 AM
I'm not sure this celebration can last after everyone digests the speech. That coming from a guy that is long SPY and QQQQ..
Its not about bail out.
And its not about celebration.
Here is the main point. Economy still strong, though it may slow down a bit. If economy will be in danger the Fed will act agressively as needed.
But the main thing is.. that market has calmed down. Confidence is restored. Its business as usual. Buy good stocks, sell bad stocks. Thats it.
Bernanke put is... "Fed is watching and will act if there is a real problem, but it will not be bailing out those who overleveraged themselves and made bad decisions"
Edited by ogm, 31 August 2007 - 11:26 AM.
#4
Posted 31 August 2007 - 11:26 AM
Edited by BigBadBear, 31 August 2007 - 11:27 AM.
#5
Posted 31 August 2007 - 11:33 AM
I'm not sure this celebration can last after everyone digests the speech. That coming from a guy that is long SPY and QQQQ..
Its not about bail out.
And its not about celebration.
Here is the main point. Economy still strong, though it may slow down a bit. If economy will be in danger the Fed will act agressively as needed.
But the main thing is.. that market has calmed down. Confidence is restored. Its business as usual. Buy good stocks, sell bad stocks. Thats it.
Bernanke put is... "Fed is watching and will act if there is a real problem, but it will not be bailing out those who overleveraged themselves and made bad decisions"
Well, since I'm long my two largest bets of the year....I'm all for your being right here. But in the back of my mind I'm thinking "one day wonder, Monday we all die". And I'm almost 100% wrong in all my buys this year and this one isn't over yet!
~ Johann Wolfgang Von Goethe ~
#6
Posted 31 August 2007 - 11:39 AM
Ben will capitulate. You can take that to the bank.
Say hello to the Bernanke put
I'll say hello to it when I see it.
Frankly, he should've done it by now. The credit market started crapping its pants over a month ago. And here we are reading a speech that basically says, "One of these days, when it's plain as day that the economy is circling the drain, we'll start cutting the funds rate. Until then, good luck rolling that commercial paper."
p.s. The window's open.
#7
Posted 31 August 2007 - 05:35 PM