While I haven't made any trades, I am laughing at the 33% drop in Freddie Mac. The organization that supposedly assists families to buy homes has imploded on $2 billion in subprime losses. People said, they are an organization that does a public good. BULL! Justice served.
Ironic that SKF at $109 now. Some moves I'll miss, but since I didn't get caught in yesterday's or this morning's fake up move in the Dow or QQQQ, I'm happy.
Seems there was a 2pm FOMC minutes release and the market didn't like that the FOMC admitted U.S. GDP growth is expected to drop to the low 2% range for 2008.
Right now, the Dow is down 100 and there is no sign of a bottom. Any guesses on support, how about 1366 on the S&P. But that's another 4% from here, which is nothing in the grand scheme of things.
I am looking forward to Xmas.
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