Everything was going fine on Wall Street. The anticipation was building. Wouldn’t it be great if it were a 75 basis points cut? Things were trending happily upward as 2pm approached. Then suddenly, shortly after 2pm, the dam broke. “They say it’s only a 25 basis point cut!”, somebody screamed. Let’s head for the exits! The stampeding herd leaped from the cliff, or rather, the herd created the cliff. See above. It’s amazing how the pack acted as a single unit and SELL was the cry. A sudden 300-point downdraft sunk the DOW for the day. All because of 25 basis points.
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Stockbrokers are a twitchy bunch.
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Yeah, that’s right, they prefer to twitch rather than bah (buy and hold), like me. Bah, bah, bah, I say.
Today it looks like an upward bounce according to the futures. We’ll see if it’s a dead cat bounce.
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Jeez Dad, there’s another post I can’t wrap my tiny brain around! But, good one anyway!
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Oh, I’m just using the lingo that the trader aficionados use. Of course, the futures market is what puts bets on the openings. Like today the futures were negative and the markets opened with a decided downdraft.
I like the expression “dead cat bounce”. It’s pretty clear that’s not much of a bounce! 😆
In fact, yesterday was a bit of that — Dow up in the 40’s whereas it was down 300 points the day before. 😆
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Hi Mardé,
Oh boy, it looks like I missed that one. It depends on the news channels that you watch in France what comes over as top stories from the US.
I do have CNN on cable, but I rarely use it ( just in passing).See you soon, my friend.
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Hi Barbara,
Good to see you again. You may not have missed much. The markets have been crazy for a number of weeks now, up and down, all over the place. Today is another down day. Excess greed unexpectedly hit the fan this year!
It’s anybody guess how it will all turn out.
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