That 75 basis point rate cut should help stabilize the market.
What people don't realize is that the market no longer belongs to the investors - it belongs to the traders. It belongs to people who buy 1,000,000 shares of something today and wait for the suckers to think something good is happening with the company. When the price goes up 10 cents the trader sells his 1,000,000 shares, pockets his $100,000 and takes the rest of the week off. Of course the stock then droppes because there was no actual value increase.
It's W's fault!
On December 21 2012 that blue line will be flat with a long beeeeeeep.
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