Waiting For a Fed Move

It looks as if a bit of uncertainty is slowly creeping its way into the market place prior to the fed's anticipated rate cut on December 11th. Here is where it gets interesting, initially the market was falling all over itself trying to coerce the fed for a rate cut. It looks as if the market will get its wish, which is why I believe the market was up so huge last week. Anyhow, I feel the market is getting too greedy and talk is abound about how the market may be hoping for a 0.5 basis cut. So what happens if the market gets the lesser of the two? In my opinion the market will take on a downward trend.

To be honest, I have a few put plays in the options market, which expire in December and are not looking to hot right now. However, I still hold out some hope that the fed cuts rates by only 0.25. If for whatever reason they don't cut rates at all then the market better brace for a large drop in market share and increased volatility. I will continue to monitor the market until the fed makes its move, but I am not looking to make any additional large moves in either a bearish/bullish direction.