Tony Soprano

Short Covering Helps Boost Stocks

Never ever under estimate America, its people, its government, its ideas and its place in the world.

Short Covering Helps Boost Stocks

Mr Whidbey

You don't understand. What the Fed did today its NOT inflationary. That was the beauty of it. In this action or swap what they are offering is not the printing of more money. They are using Treasuries (securities already in the market and owned by the gov.) to swap the bad debt. In addition, this was a world coordinated effort and you will see more of these type of tools being used. The Fed did not cut rates today and the Dow was up 416 points. Finally, what will happen when the ECB cuts and it will look differently at the dollar now that we have the swap auction by the Fed?

Short Covering Helps Boost Stocks

We're having Carmela's lasagne with basil leaves and peaches in red wine for dessert tonight. I told her we got some good news today and we need to celebrate a little.

All kidding aside, I like what Rich Santelli said this early morining: "This is huge."

This is not the absolute end to this crisis but its a big step in the right direction.

What fantastic timing by the Fed. Just when, from a technical point, the Fed unleashed their time bomb. What happened to the crasendo to the down side? Will it still happen?