Fed funds rates is cut to a quarter of 1% a new historic low.
Krugman has some opinions on this, mainly that it's not good and that we're dangerously close to a liquidity trap, which I compare to being off balance on the ledge of the abyss.
I'm not as concerned with that as I'm upset with myself regarding my trades today. I, as well as most traders, were expecting a half percent. When news hit of a quarter percent, my target stocks shot straight up with the Dow closing up 349 points! And like an idiot I missed every point of it. I like to take my long or short positions prior to major announcements, and because I was expecting a half instead of a quarter point I stayed on the sidelines anticipating what I call a baked in sell off. I guess not.
The hardest thing to do is to not throw away money tomorrow trying to over compensate for missing huge gains today. Hopefully we get a pullback and then more momentum the rest of the week that I can get a piece of.
