Market considers a 50 basis point cut

Last Wednesday, when there was only a 32% chance of a 25 basis point cut in the Fed futures rate, I said there was going to be a 50 basis point cut. At that time, the market had ZERO odds on that.

What happened?

Now there's a 100% chance of a 25 basis point cut, and a 14% chance of a 50 basis point cut, and a 50 basis point cut priced in by year's end. The market, is being dragged kicking and screaming to my position. What a difference a week makes.

And the bears, who are still short huge amounts of stock, will be dragged kicking and screaming into the poorhouse, blabbering about subprime, housing and mortgage messes, as this market steamrollers them.

The information I had given you, would of allowed you to buy stocks last Friday, on the 20th year anniversary of the crash, when the market was down 376 points, with bears everywhere, and Maria Bartiroma screaming, "look at the sell imbalances."

Even today some shill on CNBC said, "you have to be brave to be long." Are you kidding me? Brave? This talk makes me puke. I can't even turn the volume on the TV set. I just need to watch the tape.

If you want to follow Wall Street you might as well just burn your money. Or you can keep your cool, and keep your money, and make some manna from the opportunities the market is giving you.

It's your choice.