Hurricanes and the Fed are going to be the one two punch for this market. With the hurricane, I believe the effect will be short term regardless how severe the damages will be to the region. Especially, the downside of Rita is already being baked in to the market. My concern is with the Fed. Not that I think this last .25 pt will put us into recession or even the next .25 pt hike, but I think the Fed’s tightening stance will continue to send this market lower.

This entry was posted on Wednesday, September 21st, 2005 at 10:25 pm and is filed under Stock Market. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.