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September 19th, 2007 by eyal | Filed under Day Trading. |
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Everyone knows the interest rates were cut 50bp etc. etc. I have no idea if it’s more good for avoiding recession than it is bad for inflation and all other such economic considerations which I will leave to those who know what they’re talking about. Instead I will just say it was interesting to watch the spike that ensued. You usually see those spikes around FOMC decisions and changes to rates but this time the spike didn’t revert back to normal and instead there was consistent push up across the board. I therefore increased my position in financial and reduced further my USD exposure.
