Don't get caught up in minutiae: 25 basis points. 50 basis points. That should not be of concern to you. I am hearing the whirl of 25, no 50, no 25, and the temptation is to take something off the table if it is only going to be a 25 basis point cut.
Wrong!
This is the kind of trading blather that means a lot if you are whipping around some eurodollar contract in London. It is just a bunch of confusing noises if you are OWNING equities.
When I said that you have to get long after the
Fed starts easing, I didn't break it down to how many points or quarter points or half points it was. That doesn't matter. It is the direction that matters. In fact, given the weird way that Wall Street is, a quarter point just prolongs the bears' agony. As soon as it happens, if it is indeed a quarter point, you will hear people say, "I don't think that is enough. They will have to cut again." That's nirvana to Mr. Bullish, the name my folks called me in 1980 when I fell in love with the market. (Don't worry, it was the oils then, and I still made good money.)
Those of you who are getting itchy trigger fingers to take something off the table, go stick those fingers into some epoxy. History says we're just getting started here, whether it's 25 or 50 or whatever. Until you hear the word "hike," we are going higher.
Random musings: Might
Dollar General (DG Quote - Cramer on DG - Stock Picks) be the next crummy retailer to rally? Wouldn't shock me. Lots of guys downgraded it before, and they sure can upgrade it now.
Jim Cramer
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