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Afternoon Update...

Written by Zachary A. Musso On 1/28/2009 02:13:00 PM
First off, an article on the OPEC supply cut:

Secondly, the FOMC Rate Decision is that the financial sector has been improving, but the overall picture in a Macroeconomic sense has been steadily declining.  The rates didn't change, staying at .25.  Longer Term treasury securities are being prepared to be purchased by the treasury department, and there was only one vote that voted against this.  The Fed is willing to do anything to push this market higher, stimulate our economy, and attempt to bring us out of this slump, emphasizing their target problems as Mortgage and Credit issues.

That's what I got out of it through the CNBC live report from the Treasury Department.  If you'd like to listen to the talking heads that are on CNBC now, go right ahead.  For now, I'm going back to my monitors, watching my once positions get cut down at the knees for asinine reasons.  A minor knife down means nothing; the energy sector will be up until Friday.

Position Update:
  • ERX @ $38.69
  • FCX @ $25.94
  • DRYS @ $12.20
  • BHI @ $32.00
  • SII @ $25.02
  • Cash - 25%

Keep Tradin'

ZM

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MJTT Disclaimer

I am not, by any means, a financial analyst. All posts and tickers mentioned in them are my opinions and my opinions only. If you buy and sell ANY tickers because of my recommendation, you are trading at your own risk.

Zachary A. Musso - MJTT Owner/Author

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Fully Discretionary, Speculative Futures Trader - Technical Analysis Junkie - Bentley University Class of 2014.

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