Today's drop

So what caused the drop? Folks are pointing to fears that the Fed might not drop the rate.

Ok, I'll buy into that. Personally, I hate when the Fed drops rates because that means the economy is heading for a recession. And recessions hurt stock prices.

Sure, in the near term, the market loves rate reductions. But that's a junkie getting a fix on the road to ruin.

I mentioned that I was struggling to find sectors with broad earnings upsides. That's points to the real imminent slowdown.

I don't know what the Fed is going to do - dropping interest rates is unwise. And next year is a election year. When the media starts denying recession, it's time to assume recession is close.

I am not cashing out completely, and I have set my STOPs (did we get stopped out of CTSH - I need to check). Frankly, if there is a recession, many companies will see wages go down and that's good for companies working hard.