Agreed if the Fed only raises 50bp with so many people now expecting 75bp, look out below. And even though some high profile names are calling for 100bp, I think the market would sell off on that too. 75bp seems like the best option for bulls.
Reaction this afternoon sure to be interesting. At least the market has already been pounded over the past week...so I feel like the odds favor a short-term bounce. I wouldn't want to be loaded on the long or short side, as we could see a sharp move in either direction.