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Tuesday, December 16, 2008

The fed effectively cut rates to zero. And they will be doing all kinds of things to keep us out of the abyss as they put forth a biblical statement. The market liked it and the dow closed up nearly 360. MLPS closed higher by 2 points and over 180. As usual in these situations we should see us play catch up tomorrow.

No news so far after hours.


Bruce said...

Don't know about "catch-up", Joe.
Depending on how the market reacts to OPEC's to-be-announced production cut and tomorrow's energy numbers, we could see a lot of volatility tomorrow and over the next few days and weeks.


joewxman said...

it just looks to me like the overall market wants to go higher here. OPEC cut i think is priced in so unless they come up with a bigger cut (a bigger lie about what they are cutting) then energy stocks could rally as a whole. Also dollar is imploding and that could be a player in crude prices.

Its never easy.