We can't have a recession, we don't want a recession, things are supposed to go up, they always go up, why aren't they going up?
Stupid economy." American Politician
Ok maybe it's more of a paraphrase. :)
The only quiver left in the U.S arsenal are interest rate cuts, 2.00% left to go until they hit zero.
Then what?
On the brighter side we now see survivor banks (Citibank & Wells Fargo) competing over a non survivor bank (Wachovia). This is a good sign, in fact this is how capitalism is supposed to work.
The strong eat the weak.
Crude oil had some nice moves today. I got stopped out of the first one and will have nightmares over that one all weekend. Caught some cheese on the others and had a nice day.
13 Tick Crude Oil Renko Bar Charts (click on chart to view)
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