The markets blasted off today on the announcement that central banks will cut overnight lending rates by 50 basis points. We also had some decent data today.
What is unique is the fed will offer liquidity swaps in multiple currencies. The measures are only temporary. Very interesting commentary can be found here from JPM.
Anyone notice momo stocks hardly gained today?
We also did less than a billion share on the NYSE….i know call me a bear.
Any way i thank the clam for giving me all my money back.
Sometimes it is good to be 100% cash. Perhaps we rally up to 1265 -1270 S&P, (200 ma,) and then we will TZA this clam inspired hokus pokus.
DOW UP 473
NASDAQ UP 104
S&P UP 51Twitter