Bernake said last October that 'Economy is strong.and the FED is not here to save Markets on a daily basis'. But he along with JPM worked on the Bear sale yesterday for $2 on a weekend. Even Bush rushed to strike a note of calm to the turbulent situation few minutes back, hailing the Fed's action saying We're in challenging times.We've taken strong decisive action'.Imagine the situation. In Today's world nobody is insulated esp. India. with its enormous growth in '07 and until this January SENSEX is going to be the first to take the pinch! My blind guess is that the FII took atleast a $ 1billion out of our Market yesterday. may be more. Mr. Chidambaram and Congress are here to fool around just like how they did by waiving 60,000 crores of farmers loans.Be cautious and stay out or short.
