The bears were right, it WOULD been a bloodbath, as evident by the market open -400 pt drop even with the 75 bps cut. But eventually cooler heads and bargain hunters prevailed. I think the market will be ok this week, maybe even a little bullish. It's now the shorts turn to be nervous for a while. But the main question now is, what will happen on the next fed meeting Jan 29th? Will they cut the rates again? And if they dont, will it cause another huge selloff? I really think bennie is awful as the fed chairmain and has an identity crisis. If he wanted to be like alan greenspan, should just cut the rate by 50 bps at beginning of new year, followed by a 25 bps cut at Jan 29th. The market would be in a much better shape/confidence. As oppose to this 75 emergency cut and dug himself and EVERYONE ELSE in a hole I am very nervous on how the market will react on jan 29th if there isnt another cut.