What a humongous gap down on the open! And those who faded it, whether going long or covering shorts must be quite happy bunnies right now. In case you have been hiding under a rock, here is the news: Fed Cuts Rate to 3.5% in First Emergency Action Since 2001, Citing Economy. Well, now that volatility indexes are sky high relative to last few years and PCR is also quite elevated, some bounce should follow before the next SAR!!
Tuesday, January 22, 2008
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