The Fed's Botched Interest Rate Cut

Although I believed the Fed should have cut interest rates, their TIMING on today's 1/2 point cut was absolutely atrocious in my view. The intention was clearly to counteract the affect of the Corona Virus on the markets, but their action actually only caused more worry and fear in the markets. The reason for this was because it came on the heels of the biggest gain in stock market history. So the impression that market people got from this cut was that things must be very bad for them to have trotted this out. What they should have done was wait for a stretch of big loss days(say 3 or 4) and then do the 1/2 point cut. It also was a good indicator that the big boys are limited as to how much they can keep the stock market propped up with insider purchases. Quite a few of them probably don't want to sink too much more money into what they now perceive as a likely sinking ship. It will be very interesting to see how the rest of the week plays out. Personally I am not optimistic.