The Fed cut interest rates by .75 points on Tuesday morning after world markets tumbled on Monday. The Fed is expected to cut rates again next week at their regularly scheduled meeting. The market moved higher on Wednesday after the rate cut, but didn't show much follow through for the rest of the week (sorry for the brief market update this week -out of town).
News stories:
Bush and House in Accord for $150 Billion Stimulus
Home Prices Fell in ’07 for First Time in Decades
Mortgage bond insurers 'need $200bn boost'
Gold, Platinum Rise to Records as Mines Close
Rogue trader to cost SocGen $7B
Stock Market, stocks this week, earnings week
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- 123Trader
- I've been trading stocks on-line since 1993. I started off like most people knowing very little about the market, but I have since traded Stocks, ETFs, Options, Forex, Futures and Commodities. I now mostly trade Options. I primarily use charts to analyze price movements, but I avoid using a lot of technical indicators. My primary indicators are Trendlines, Support & Resistance, and sometimes MACD extremes and Volume. I may hold positions anywhere from a few days to weeks, or months, as long as the trade continues in the right direction. Happy trading to all!
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