Didn't the Fed say that the economy was getting better in its Statement yesterday? Didn't it say the risk of downturn had diminished? Now, look at the DOW and NASDAQ and you would see how ugly they look.
We need some words from the Fed to guide us now. The market is clearly very confused, over-reacting and panicking. If this goes unchecked, we may see a butterfly effect throughout all the major stock markets.
We knew very well that financials must have further write downs but why is the market in such panic sell-off today?
Oil price is something that must go up and up. $140 a barrel, so what? GS and MS have predicted a higher price. Why is the market reacting with such panic?
Where is the light to calm down the nervous crowd? I am sure you will see Henry or Ben saying something soon, very soon.
The new US President will act like Santa Claus and he will print out new cash to save all. So, fasten your purse. USD will fly...
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