They Need To Quit Overthinking This -- September 18, 2024

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Updates

5:18 a.m. CDT, September 19, 2024: I've been investing since 1980 or thereabouts -- in those 44 years I don't recall seeing pre-market activity like this. As noted last night, the talking heads on CNBC need to quit overthinking this. Not one talking head suggested this is what we would see this morning. Amazing. Most were quite concerned, most were quite negative. The "Fast Money" panel was particularly negative. I missed Cramer's last hour because of family commitments. I will watch it later this morning.

Original Post 

I was pretty much glued to the television set all day, watching CNBC.

For the archives, today was the day the Fed, i.e., Jay Powell, cut the Fed rate by 50 basis points, a historic and surprising "first." 

While listening to the talking heads on CNBC following Jay Powell's press conference, I had one thought: these guys are "overthinking this."

Tonight, I stopped by CNBC website to see what the futures market was doing. 

Yes, I was correct. These guys are overthinking this.

All things being equal, this is going to be one helluva quarter for traders and investors. 

Just saying. 

So much for selling in May and going away.

AAPL: up $4.00 during the day. Up another $1.60 after hours.