The Fed approved another cut of 75 basis point from 3% to 2.25% the lowest level since 2004. The market rallied on the news with the groggy financial sector leading the way. Following good news from GS and LEH, the sector was the best performer posting a 8,5% gain. The volume was just above average, but nothing stellar considering the strong move. This rally could have a follow-through in the near-term, but its hard to predict a bottom here. For this reas[...]
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[Source: The Money Blogs]
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