Well that was yucky!

We read somewhere the Atlanta Fed cut its GDP forecast for Q4 to 0.7%…which is a big drop from Q3. That means Yellen raised rates into a real slowdown. The Fed waited years to raise rates and they do it while commodities crash, China slumps, markets are in trouble and GDP is cut. Thrilling! Short term, anything is possible. Big picture remains yuck and is getting yuckier with yesterday’s action. Many stocks that were holding up got raided badly yesterday.