Bear’s Get Blown Away
Wednesday, October 10, 2007 - 9:42 am
Originally Published in Charting the Market October 10, 2007 9:42 AM
The debate over the release of the Fed Minutes should drone on today, and perhaps the stock market jumped the gun. Yesterday’s move stuck a fork in many bears, but the coup de grace, in the form of another fed funds cut, is not assured. The gang at PIMCO is still looking for a cut, but doubts are start to seep in. The S&P 500 is taking a breather this morning, but the move from the August lows has been stunning.
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