Newsletter

—–Wow. In the past week, our central bank has:—– 1) Slashed rates to 0%. 2) Add QE of $750 billion to the already NOT QE. 3) 0.25 loans to banks. 4) Swap lines. 5) Commercial paper facility. 6) Primary dealer facility. 7) Money market facility. ——None of this helped markets. We then got other countries…

——Futures are 1,000 DOW points or so to the upside. Many are looking and coming up with reasons why. But during the night, they were also down 700 at one time. We were up and saw no news that changed things. The only occurrence that changed things was price. European futures turned up and our…