Hooray! We recovered the 2-week uptrend from the $151 low at the close

And oil plunged under $89 for its close.

Two bits of good news.

Oh, DELL down 14%, RIMM 7%. So that’s 4 bits of good news

OMFG.. A Fed Governor is talking some sense!

16:02   Fed’s Poole says Central Bank should respond to risk of recession provided keeps long run price stability

When further rate cuts would ease financial turmoil, always appropriate for Feds to discuss. Says “just not true” Fed eases policy systematically when stock market drops, 1987 the exception.

16:02   Poole sasys no policy can prevent losses in subprime paper—Bberg

16:01   Fed’s Poole says everyone should believe central bank will respond to events that would cause recession

Poole says Fed cares about active markets, growth, not financial market prices per se.
16:01   Poole says Fed lacks power to keep market at ‘proper’ levels—Bberg

16:00   Poole says Fed may cushion stock prices as a byproduct of policy—Bberg

Screams “RATE CUT” to me!

Shortie Doug Kass just told Larry Kudlow on CNBC that the santa rally is over lol, damm that swinger.

Somebody should tell him that it’s not even December yet, and we have 25 days until Christmas!

not a bad day. We will oscillate between 170 and 190 until earnings if this co tinues. Writing on my iPod touch… Am In uk now, shocked to not see an iPhone yet. Economist has a v nice ad tho.

[quote author=“Tommo_UK”]

OMFG.. A Fed Governor is talking some sense!

16:02   Fed’s Poole says Central Bank should respond to risk of recession provided keeps long run price stability

When further rate cuts would ease financial turmoil, always appropriate for Feds to discuss. Says “just not true” Fed eases policy systematically when stock market drops, 1987 the exception.

16:02   Poole sasys no policy can prevent losses in subprime paper—Bberg

16:01   Fed’s Poole says everyone should believe central bank will respond to events that would cause recession

Poole says Fed cares about active markets, growth, not financial market prices per se.
16:01   Poole says Fed lacks power to keep market at ‘proper’ levels—Bberg

16:00   Poole says Fed may cushion stock prices as a byproduct of policy—Bberg

Screams “RATE CUT” to me!

I don’t recall a Fed governor speaking differently. The Fed has targeted but limited clout in moving the markets and will respond, as needed, to the risks of recession and inflation.

I don’t understand why investors would expect the Fed to move in a way contrary to its role. The Fed will not act to changes in stock prices, but will move to maintain stability in the economy.

The only problem with a rate cut now is the Fed would be compelled to start moving rates higher at a date sooner rather than later. If the markets are this sensitive to Fed policy now, it won’t get any better in the near future.

The sub-prime mess can not be solved through interest rate cuts. It’s a matter of time and a matter of reducing inventory over that period of time. I think we can forget 2008 for a big housing rebound. In a weird way, that may be good for the stock market - less competition for investment funds.

[quote author=“DawnTreader”]
I don’t recall a Fed governor speaking differently. The Fed has targeted but limited clout in moving the markets and will respond, as needed, to the risks of recession and inflation.

I don’t understand why investors would expect the Fed to move in a way contrary to its role. The Fed will not act to changes in stock prices, but will move to maintain stability in the economy.

What role the Fed will play I think is one of the questions trying to be discovered. Greenspans primary focus was controlling inflation and thus the markets could count on him to keep inflation in check. What is Bernanke’s primary focus? the economy, inflation, something else? The Fed has very little power to control everything but it can control a few things. Bernanke can lower rates to maintain the economy but risk inflation. Or raise rates to control inflation but risk the economy. I think the markets are still trying to ascertain how Bernanke will define the Feds role.

I like the lion on my avatar but would like to know who the guy next to the lion is? CAN ANY ONE TELL ME? I found it in the 1965-1975 groupings.

RCooper, welcome to the AFB!

Thank you for the welcome DawnTreader. I retired in the last few months at age 55 and decided i wanted to take over my Profit Sharing account and personal investment accounts on my own . I have been an active investor since i was 22 years old , but never had the time to monitor my accounts like I needed. The only problem is nobody warned me of the amazing increase of anxiety that came along with it. After sucking down a bottle of Maalox every week to keep from getting an ulcer one of my good friends MacCube , in this forum , recommended I start monitoring this forum since one of my largest holdings was Apple . Now it takes months to go through a bottle . I owe the entire forum credit for making me realize I was not alone in chastising and cursing the S.E.C , hedge funds and any other crook on wall street that keeps Apple and other stocks   way more volatile than should be.

DawnTreader sorry it took so long to reply but I was doing something real important . I was watching the episode of X-File where the Lone Gunmen were introduced.

[quote author=“RCooper”]DawnTreader sorry it took so long to reply but I was doing something real important . I was watching the episode of X-File where the Lone Gunmen were introduced.

x-files…? you are writing form the pas then ? Didn’t they all died when the planet blew up?

I was planning to give you a tip to a serie a bit simular to x-files yet more recent, but can’t think of any… atm my top serie is DEXTER. The most refreshing highest quality original serie I’ve seen in ... a VERY VERY long time. To sensitive viewers : give it an episode or two, so you know what it’s about before running away.

Regenesis is also way good, but they fucked it up in the last season.

I can go on and on about series, I watch a lot! but that is way offtopic here.

Oh and welcome here. It is nice to have a pool of younger and older ppl.

[quote author=“RCooper”]I like the lion on my avatar but would like to know who the guy next to the lion is? CAN ANY ONE TELL ME? I found it in the 1965-1975 groupings.

Welcome RCooper,  I haven’t a clue to your avatat man’s identity, but he does have that expression of one that may have consumed way too much Maalox. 
Glad to see that you have emerged from the closet.  

[quote author=“MacCube”][quote author=“RCooper”]I like the lion on my avatar but would like to know who the guy next to the lion is? CAN ANY ONE TELL ME? I found it in the 1965-1975 groupings.

Welcome RCooper,  I haven’t a clue to your avatat man’s identity, but he does have that expression of one that may have consumed way too much Maalox. 
Glad to see that you have emerged from the closet.  

Now how do you know he was in the closet?

[quote author=“RCooper”]I like the lion on my avatar but would like to know who the guy next to the lion is? CAN ANY ONE TELL ME? I found it in the 1965-1975 groupings.

Maybe this will give you a clue .

[quote author=“wheeles”][quote author=“RCooper”]I like the lion on my avatar but would like to know who the guy next to the lion is? CAN ANY ONE TELL ME? I found it in the 1965-1975 groupings.

Maybe this will give you a clue .

Could be worse. Could have been Howard Stern.

Thanks wheeles you are definitely the man . As long as it wasn’t a young Al Gore I can live with this avatar .