GREY:CLLZF - Post by User
Post by
strzelinon Aug 17, 2007 10:18am
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Post# 13262270
Fed rate cut
Fed rate cutAll markets are on the short covering mode due to the Federal Reserve action to cut discount rate on loans to banks by 0.5%.
Unfortunately the Fed did not change more important federal funds rate, which stays at 5.25 per.
TSX energy sector jump about 3% at the opening on shorts covering their positions(IMO).It has settle now at 1.3% up.
This may explain the CLL share price move this morning.
Initial jump and leveling off at the yesterday close.