Wednesday, October 8, 2008

Rate cut spurs weak morning rally

Markets have reacted half-heartedly to the coordinated rate cuts of 50 basis points this morning. The Dow was up over 100 points in early morning trading.

I think we may be in the red again by this afternoon as Moon is in hard aspect with Saturn. This peaks in the last two hours of trading in New York. Look for a late day sell off.