"Insanity: Doing the same thing over and over again, and expecting different results" - Albert Einstein
Do you hear that sound? Do you?
That's the sound of a completely wasted rate cut. In an unprecedented move (there are a lot of those lately aren't there?), a few Central Banks went ahead and cut their rates in a coordinated manner.
The market rallied. For a while. And as I type this, the DOW Futures sank again over 100 points. Why? What's going on?
What's going on, is that the market forces at work are more powerful than what the Central Banks can provide. I wouldn't be surprised to see the DOW hit 8,700 ...(Video Included)
I would say we're getting close to what I'd look for in a bottom. But we're not there yet.
I'll try to get to that video on my thoughts in regards to why going back to the Gold Standard will not work, soon enough ...
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Note: This is not an investment or trading recommendation. The losses in trading can be very real, and depending on the investment vehicle, can exceed your initial investment. I am not a licensed trading or investment adviser, or financial planner. But I do have 12 years of experience in trading and investing in these markets. The Challenge accounts are run for the education of other traders who should make their own decisions based off their own research, and tolerance for risk.