Portfolio Recap: Dec. 11, 2007

I think what happened yesterday to the markets is rather well documented, so I will not not go into much detail. The Fed's quarter point reduction in both the funds rate and the discount rate did not give traders what they wanted. The Fed was also clear the the US economy is already slowing, but they want to fight inflation as well. The market sold off, and so did nearly all the stocks in the Portfolio. On the bright-side, the market looks poised for a strong open Wednesday morning, and hopefully we can make up for yesterday's debacle. Best of Luck!