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Wednesday, September 5, 2007

Know whom to ignore

Before the Fed cut the discount rate, on Friday August 17th, Fed governor Poole chimed in on Wednesday night, August 15th, that the Fed had no real reason to cut. The next day the market sold of 377 points, as the bears ran over the bulls. Yesterday, we had Fed governor Lackey, say the Fed hadn't made it's decision to cut interest rates. So the market's down 150 points already. What do you do?

Well, what happened last time? Just get out the same script. You bought the dip, and ignored the Fed governor(s) who should be ignored.

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