Just when I thought I had the stock market figured out, well, yesterday happened.
When it was hinted that another rate drop was coming from the fed, there was much rejoicing and the markets went up.
When they cut the rate last month, things went up. Okay, I see a trend. Rate cuts hurt the savers, but makes the markets go up. A lightbulb went on for me. I’ve got a pretty good grip on how that works now.
But yesterday, they cut rates, and the markets went down. Way down. Personally, it hit me with a $1300 loss.
Apparently the rate cut they wanted (and received) wasn’t good enough. “Oh, I’m sorry, we should have cut it more than we did…”
Maybe I’m out of line here, but as far as I’m concerned, that’s just greedy.
In essense, investors took their ball and went home. Sigh…