I Would Short...BUT...

I am hearing 50 Basis Point Cut or death to the markets this morning on CNBC.

I have to be honest. I wake up at 6 AM on the button each day and watch CNBC for 5 minutes. It reminds me what I may be missing. Today, that seems to be the discussion about a must Fed 50 basis point cut. Off you go now.

Pathetic.

The S&P is rallying because of the financials weighting. I think it could back to all-time highs based on a big financial rally, but that would just suck the wrong people in, the same that bought homes they could not afford. Those that are shorting confuse me too beacuse they are standing in front of a wimpy and spineless Fed and government. Needless risk and pain.

I still think you do less although I am tempted to hammer the market to the short side. I will hit a few financial ETF’s for a trade just to settle my urges at some point this morning.

One bullish sign is that IPO’s are getting pulled like crazy . I am watching those IPO’s that make it, they either really need the money and are being puked out or are great and can survive and thrive in which case they shape up as new leaders.

Sentiment…including mine, sucks. That’s bullish . When I am this cranky about market direction and CNBC I don’t force anything.

If there were real strength I would actually be a buyer.