I call him Gamblor
Oct. 31st, 2007 04:02 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
captpackratThe Fed meets again tomorrow afternoon. The last time they met, everyone was expecting a 25 point rate cut. When the Fed surprised Wall Street with a 50 point cut, the market went nuts. This time around, again the consensus is for a 25 point cut. I'm betting on more.
Last time around, I threw all of my available cash into the Nasdaq just prior to the announcement, which made me several thousand a few minutes later, but it is financials who stand to benefit the most from a Fed rate cut. This time I've thrown my money into the ProShares Ultra Financials ETF (UYG). It's a risky move (and it's already cost me $200), but if the Fed gives another 50 point cut, which some analysts think may happen, I could hit the jackpot.
Normally I'd stay waaaaaay away from the financial sector (I prefer tech, energy and materials), but this time is an exception.
Last time around, I threw all of my available cash into the Nasdaq just prior to the announcement, which made me several thousand a few minutes later, but it is financials who stand to benefit the most from a Fed rate cut. This time I've thrown my money into the ProShares Ultra Financials ETF (UYG). It's a risky move (and it's already cost me $200), but if the Fed gives another 50 point cut, which some analysts think may happen, I could hit the jackpot.
Normally I'd stay waaaaaay away from the financial sector (I prefer tech, energy and materials), but this time is an exception.
