picture taken and given to subscriber 11 hours ago.
Credit Suisse guy on national TV saying "screaming buy". Sure you buy, CS sell to you, then you scream, hahahhaah.
We heard from UBS (United Bank of Singapore), how is Credit Suisse doing ?
Market trying to turn around, unwind the selling pressure. Like a slow ship turning. At least Bernanke managed to mark a turning point.
Market plunge is far from over. The rise started from 2003, a 4 yr thingy dun get over in 2 weeks.
When we hear from the Plunge Protection Team (PPT) aka Financial Working Commitee, we still have some more legs to go. Short term rebound.
The next FOMC is on the 18 March, 2 months from now. More impromptu FOMC meetings now in the cards. E.g. when you are in the bed doing the wonderful thing, may be a impromptu FOMC 50bp cut can really get things going for the EuroBull.
Amendment, next FOMC is still 30-31 Jan. Fed Fund says another 50bp cut. My God !!!! it is 3%. and then another impromptu FOMC), it is 2.25%, and the March 18, it is 50bp to 1.75%.
By the end of 1Qtr, it is 1.75%.
What if there is no Recession afterall ?
I think US Interest Rates, financial system would be in total chaos. A greater crisis than subprime.
A subprime crisis should not be having a impact of as now. A bigger crisis is coming.
With Euro at say 3.75% and USD at 2.25% by mid Feb, a differential of 1.5% vs Euro,
or GBP at 5.25% USD at 2.25%, differential at 3%.
the new Carry Trade has arrived.
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