close range tuesday, page-4

and as for FOMC, I think we have to believe that a .25% cut is already priced in, but anything more will probably lead to a rally. A .5% cut will allow the Wall St banks to come out with some bad news and have that news discounted by the fed cut. Anything more than .5% cut tonight might startle the rabbits into thinking the situation is more diabolical than they thought..

In any case, the fed has the game sewn up, cos they can buy a rally from the PPT... I'm punting on a rally on a .5% cut announcement ..