Fed Cut!

Fed has been very generous today, they lowered its federal funds rate, which impacts how much consumers pay on credit card debt, home equity lines of credit and auto loans, to 3.5 percent from 4.25 percent and its discount rate, which is what it costs banks to borrow directly from the central bank, by three-quarters of a point, to 4 percent.

The global sell off that happened everywhere else around the world on monday prompted them to setup an emergency meeting to cut the rate. Dow Jones Industrial index was down 400 points early in the morning but recover after the Fed announcement also it's still down 128 points from previous close.

Meanwhile, my CC is doing really well, my position up 20% from my Friday buy. Too bad, I only bought few shares since I don't have enough buying power. Anyway, I still glad that I bought it. We'll see how it's going tomorrow after AAPL report their earning.