The market seems to be selling-off on the back of limited bad news imo, apart from the dollar that is.

If you can hold your nerve and apart from any short term requirements to offload poor performing stocks, I have a couple!!, my advice would be sit tight. This does not have the feel of the tech(mining!) bubble at all. Difference being there are a lot of good fundamentals, unlike in 2000 when there were a lot of over rated nothing companies.

am taking money off the table this morning and am already running a small Dow short which i shall prob increase

Brave move cynic, in the short term (next 2 weeks) at least. Certainly not for medium term (next 2 months)

I prefer the long and short option with tight stop losses. I expect a 25 basis point cut, 50 points would cause fresh highs then reality would sink in and the bear run on the dow will probably gain momentum.

Results have been favourable this last week in US, but economic data is becoming increasingly gloomy, we are nearing the top in the US.

Follow that with some position covering, by sell off in asia, add afew automated stop losses and we have a major correction.

Makes you wonder whether the average American would be better off with the savings on their mortgages by a cut than with the resultant increased fuel charges for their enormous SUV's, or are thet all driving Smart cars and prius's these days?

Seems to be a lot of holders ditching gold before this fed decision

What's the logic behind that? I thought Gold was a safe haven in times of trouble.

Gold follows oil and opposes the dollar as well as acting as a hedge against inflation. If Fed rates stay the same gold will plunge from its recent stellar run. People are taking profits beforehand. check out thebulliondesk.com if interested

whats the date for fed rate decision?

tomorrow i think - i.e. halloween

At 1815 gmt today. Bloomberg last night quoted 94% chance of 25% , 6% chance 50%. 0% chance unchanged and said a 50% change might be an admission that things were much worse than previously thought, best to go with the flow whatever the reaction

DOW futures were down 29 points when I checked mid morning. Now they are +39.
Although no one actually knows what is going to happen, sentiment seems to have changed from negative to positive. Am hoping my 'Sell nothing & pray' strategy is going to pay off.

don't care! ..... my money still says that by the end of Dow trading tonight, it will be down and perhaps quite heavily, though perhaps a jump in the meantime ...... anticipation and arrival and all that stuff!

"Don't care"!!! Did I touch a nerve there for those shorting the DOW?

not at all ...... though my DOW short was nicely in the money first thing this morning, it is now only marginally out of it ...... I "don't care" because i actually think that is the right stance to have, and if it is not, then my other stocks will benefit, even though i have already encashed a bit as a precaution

Would all the bears agree, that overall this year the trend is UP (like I and others have said it would be :0))!!!!

again, don't care as have made money in both directions depending on the prevailing trend or impetus

with stuff like this its not bear time yet:

WASHINGTON (MarketWatch) -- The U.S. economy shook off the worst housing downturn in a generation to grow at a 3.9% annual pace in third quarter, the best performance in six quarters, the Commerce Department estimated Wednesday.
The increase in gross domestic product was better than the 3.4% gain expected by economists surveyed by MarketWatch. See Economic Calendar.
Growth was well balanced in the period from July to September, with strong contributions from consumers, exports, capital spending, military spending and inventory building. Housing investments continued to be a major drag on growth. Read the full report.
"Growth in mid-2007 remains substantially stronger than expected and the economy enjoys better momentum into year-end than expected," wrote Stephen Gallagher, U.S. economist for Societe Generale.

don't confuse "bear time" with "overdue for a significant correction" ...... the markets have got overheated (ima[rrogant!]o)in anticipation of some stupendous Fed rate cut which will solve all problems without threatening inflation and all leading to the sunlit uplands ...... i think some reality is likely to return, even if only briefly, following the Fed announcement this evening and the very important accompanying looking statement ..... i anticipate this to say that no further cuts should be anticipated in the foreseeable future!

you forgot:

imho!

no i didn't ...... as mentioned before h and imo do not sit comfortably with cynic ..... imao as above does!

missed that , glanced over as thought typo :-))