As expected, FED cut its rates again ~ FED funds rate to 3% and Discount rate to 3.5%. Stock rallied as soon as FED announced they cut its rates but the rally was short lived.
WHY WHY WHY WHY WHY???? Is it because wall streets has rallied for the past 2 days and price already factor in the rate cuts? Or maybe jobless rate (will be announced on Friday)will give us a hint that recession is on sight????
Let see what will happen to ASIAN market today. Do you think market will cheer the rate cut?? It's interesting to see. Will ASIAN market go upwards even though the closing for DOW was negative (-37.47)???
In my opinion, we will see some relieve rally today. HUAT ARH!!!!!!!!!!!!!!!!
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