If faint of heart today is not the day to watch the action on wall street. The global market collapsed - while we were closed over the long weekend.
FED acted- cut 75 basis points. That was a shock for the market- but I think it was pretty much the least they could do. Though nothing can stop us from going down big time on the open- to my mind DOW goes to 11600- making it a nice hefty 20 per cent down from the highs- and so do the other indices- hit 20 + corrections from the highs. And then this FED cut reminds the market that all is not lost. Market will be at its worst in the morning- and the VIXX will zoom above 30.... capitulation is on its way. BUY if you have cash and the courage to hang in there. SUCH opportunities dont come by everyday.
When every stock looks like its on sale- you got to buy what you like.
More ... as the day progresses.
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