18 March 2008 - 11:38Trading Advice 3/18/08

Since Friday’s Bear Sterns debacle traders have decided to price in a full 1% point rate cut in at today’s meeting. So anything less than that should give the dollar a boost against it’s contemporaries. No matter what happens I expect to see the stock market sell off after it already rallied in anticipation of a huge cut and met Fibonacci resistance at 12,270. If the cut is a full 1% I expect to see the dollar give back some of the ground it has gained since Sunday and you should sell it.