Hey there raymond, throwing a shout out to y'all in TN 8^) I am liking cash. I went 95% cash in early August and the indices are just now trying to surpass where I got out. The way I look at it, cash is a position too and unless you are a very astute trader why bother trying to catch every tick in this volatile market? Not only that, but another shoe could drop at anytime.
Now that we may get a rate cut, yields have been falling and the return on cash is not what it was say 3-6 months ago, but if the Fed Funds rate does not change I expect yields to pop and bonds to drop. This is speculation on my part of course.
If the Fed does decide to cut, it may be a good time to lock in an interest rate via CD. It's either that or play the markets, but you know me, I like funds and commodities... Of course there is always the option of doing both, no need to make any big bets one way or the other especially in this current enviroment.
My feeling is that the Fed will cut the discount rate, but leave the funds rate where it is... If the Fed should cut the funds rate, it means something is lurking in the shadows because the picture has remained mixed for years and the equities markets are not that far off of old highs...