Halloween evils

Want something scarier than your average costume this Halloween? Then how about an “evil” Hank Paulson or Ben Bernanke mask? (Suitcases of money not included).

The Fed chief appeared to leave the door open to additional "carnage".It's still dark inside so the room for stimulation is not there yet.

Federal Open Market Committee meeting, singing a song of his own individual professional conflict between values and popularity:
***There are worse things I could do

***Than lower an interest rate or two ...
Tracking the Dow on Wednesday,29/10/08.

(2 Days to Halloween)
9:30am:--80.0 points gap-down.

Cautious ahead of the FOMC announcement at 2:15 PM ET.

10:30am:--The top.

September durable goods orders rose 0.8%, better than the expected decline of 1.1%.

11:30am:--Bearish engulfing.

The Department of Energy just reported that crude oil inventory levels for the week ended rose 493,000 barrels, which was smaller than the expected increase of 1.6 million.Crude prices were up 6.4% to $66.70 per barrel just prior to the release.

12:30pm:--Shooting stars sideway movement near top.

General Motors (GM 6.53, +0.28) may ask for help in turning around its business from Toyota Motor (TM 72.33, +1.35), Dow Jones reports, citing a Kyodo News report. Toyota may buy assets, help secure funding and/or expand business partnerships, according to the report. Earlier today GM said sales in the third quarter fell 11.4% year-over-year.

1:30pm:--Another shooting star.

Stocks trade near session highs with the FOMC set to make its policy announcement in about 15 minutes. A 50 basis point cut to 1.50% is widely expected.

2:30pm:--Helicopter Ben completed his nagging.

A 50 basis point fed funds rate cut.The FOMC said the pace of economic activity appears to have slowed "markedly," noting a decline in consumer spending. Meanwhile, business equipment spending and industrial production have weakened in recent months, and slowing foreign economies may hurt U.S. exports. The Fed also believes the financial market turmoil will pressure spending.

3:30pm:--Spike up to day's high with multiple hammers.

As is typically the case, the stock market trades in a volatile fashion following the FOMC policy announcement after traders have digested the news.Now they are vomitting it out.

4:00pm:--Bearish haramis.

Late-session surge made in the final hour following an FOMC rate cut was reversed in the final minutes of trade after headlines hit the wires that raised concerns regarding General Electric's (GE 19.20, -0.29) revenue in 2009.
The Halloween shooting star looks dangerous as it did not really penetrate the MAV line.

The Dow Futures this Thursday morning is 200 points up which might be baiting the Asian market.

These two evil carnival are trying to suck blood again.