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Rate cut, we want a rate cut! OMG, they cut the rate ... it must be really bad!
Here are the results of the rate cut. How's yer 401K today?
10:30 AM ET running 50 to 1 down.
As expected market opened up with a nice bounce this morning but it slowly lost steam.
A payroll tax cut was discussed and the market sharply turned up up for the 1,167 point gain.
There was a lot of bottom fishing, airlines, oils, shippers etc and short covering.
Will it continue?