Roller Coasters take you way up high and then drop down dramatically...up and down and up and down. Then at the end of the ride...you are right back where you started. Hmmmm.
Apparently, no one wants to be short or not long enough headed into another rate cut even amid the bad news out there. After selling off this morning and following a feeble rebound effort, a rumor that the Fed is going to do an emergency rate cut sent the shorts running.
There have been some wild moves over the past week and its been difficult to explain it. Pure manipulation? Perhaps. But no matter what it is, it makes for a difficult time unless you're renting stocks for just a few seconds. We know as we watched the tape reverse course this afternoon. Something strange is going on other than just mere speculation on the Fed's next move. No matter what you think of the economy, the next week or so is going to be an interesting time for the markets and we're not just talking about the continuation of earnings season. Make sure you have your seat belts fastened.
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