The FED rate 75 basis point cut brought back buyers sending stocks sharply higher. Dow rose 420 (the largest point gain in almost 6 years), advancers over decliners 8-1 (everything I owned including junk bond funds was up) & NAZ was up 91. Treasury bonds sold off, the yield rose 14 points to 3.45%. The FED cut was up "only" 75 basis points, below expectations of 100 points causing for a knee jerk selloff afterward. But after reassessment, they liked the idea of leaving some powder dry so the FED has more ammunition for the future. The VIX (volatility index) dropped over 6 to 25.79, still at very high levels.

The FED has had unusually active in the last couple of days. Their moves are bold, but will take time to digest & assimilate. Tomorrow, without FED activity, daily news releases again will influence the markets. Last week, Tues was also a 400 point gainer day for the Dow, but there was no follow thru. Tomorrow should be interesting.