Rule #1 for stockbrokers is never fight the FED. Every time I've tried it, I go burned. The fed is going to get this economy humming again, regardless of what people may think. The rate cuts are only the first step. The next step will be to recall and redeem Treasuries. This will put the US awash in cash. If this happens, you will see inflation and a big pop in the market as it will be the only place to get a return on capital.