No Fed Rate Cut Coming Wednesday
It’s late and I am tired, so I won’t go into the details of why I think there will not be a rate cut on Wednesday. In summary, I don’t see a compelling reason for one, and I don’t think the Fed can allow the dollar to be depressed any farther.
PS. If they don’t do a cut, the Dow will shed a minimum of 300 points on Wednesday/ Thursday… maybe as many as 500 points. And some of the tech that has run up to the point of being speculative will be sold off something nasty. I wouldn’t be holding VMW, or other heavy run-ups that have drawn speculators.
And if they do the cut, oil will be over $100 within a week.
PS. I hope I am wrong. I wouldn’t mind being wrong. But I had to say what I think. Sometimes life is like that.
Disclosure: I do not hold any positions in the stocks mentioned here. I am not a professional, but I am trying this at home. It is highly recommended that you consult a licensed financial advisor or broker before making any and all investment decisions.
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