You make some good points neil but 1 Swallow does not make a spring.
I'm wary, the Fed move had an air of desperation about it.
The $100b you refer to assumes that investors didn't gear into the hedge funds - they most certainly have, in some cases there would be several levels of gearing into a dud motgage in a falling real estate market.
Caution is called for, today's reaction was way over the top in my opinion, I hope I'm wrong.
the impending dump, page-33
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Last
$64.75 |
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Mkt cap ! $12.55B | |||
| Open | High | Low | Value | Volume |
| $64.99 | $65.04 | $64.38 | $25.46M | 395.9K |
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| No. | Vol. | Price($) |
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| 4 | 13020 | $64.75 |
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| Price($) | Vol. | No. |
|---|---|---|
| $64.78 | 1246 | 1 |
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| ASX (ASX) Chart |