No Fed Cut

Fed chose not to give in on a rate reduction as they finally put some reason into the mix which to this point has been driven by downsiders in every hope to ride the train lower. Panic Inc. is the trade fad among an industry known for capitalizing on what pays, such as sub-prime. Without down, a good portion of the easy opportunities will disappear as the market will have to short cover, price, and figure out what values are available.