Here comes helicopter

The spectre of fear finanlly begin to huant the market, and some smart money definitely took the advantage to snatch some depressed shares sold by the panic investors.  Except energy, all sectors are closed much higher than when they opened, especially financials.  Meanwhile, the $VIX is reached the highs of January, So, some contranian buying should be in store.

However, this is special times need special attention.  By no means, the market  is out of wood, the overall trend is still down, until the market tell us that the trend is reversed, it is a down market.  Had we stick to that conviction, then, we should be much richer by now, me included :)

Tomorrow, we will hear the decision from FED regardeing interest rate, if recent history is a guide, I would not want to bet one way or the other, so, tomorrow, I probably will watch from the sideline until dust is settled.

It is hard to gauge what the market is expecting, many peoples expect the full point cut.  Given the overdrive the FED is putting in, it is maybe true that the FED will cut 1%.   the question is whether the news will be well received by the market.   or , will the market vote with their money for the confidence of the FED,  as matter of fact, many commentators has argued that had FED be more aggressive from begining, we may not see BSC's fire sale.   

Anyways, just be careful, we may see a calmer morning, and the real action probably will come right after FED's annoncement.