Well, perhaps the spike we saw was all about Harry, but the volume was incredible. I still think that there may be more to it than that.So, the Fed eases a quarter point, and the market tanks. Well mildly. If they hadn't eased, it tanks harder since at least a quarter was already priced in. If they ease a half, you probably get a jubilation run-up, followed by a sell-off when people realize that a half point means that the economy must be really screwed. Anyway, what I was going to say was, the broader market tanks, but BNBN goes up.http://stockcharts.com/def/servlet/SC.web?c=bnbnA nice surprise, but I don't think that the Fed's liquidity boost is going to send a flock of shoppers to BNBN. Basically, if this price level holds, the recent uptrend remains well intact, and I feel pretty good about BNBN overall. And today's volume, though less than the past week, is still well above average. So all in all, not too bad.Overall, I am a bit worried about the Fed and overall market. I think that this move was forced upon the Fed. The market had it priced in and if they don't move, there is likely major fallout. Let's face it - at this point, another quarter point isn't really going to be a major source of stimulation. This move was damage control. And that does not bode well. We are coming up on the end of a quarter. Fund managers just want to get through the end of the month without any nasty bumps, same with Easy Al. We maybe get a mark-up over the next few days so the quarterly fund performance numbers can look good. But, after the 4th of July, I am concerned about a slide. We just had another scandal break with our friends at Freddie Mac, IBM is being investigated by the SEC, last year's second half recovery never materialized, nor did this year's first half recovery, and I doubt you will see the much hoped for second half recovery this year either. I think that July marks some profit taking and higher activity by the shorts and then a slide.But who knows. If the Royals can finish June above .500, anything is possible. Nothing is following expectations.Well, sorry for the rant. Nice to have a quite place to vent or compose some ideas, though. Anyone can feel free to agree or disagree to their heart's content.
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