We should forget about the Fed Rate cut from now on

The Federal Reserve cut its key interest rate 50 basis points at 2:15 p.m. today.

Now at 4.75%, the Fed’s main lending rate has been lowered for the first time since June 2003. By choosing to chop 0.50%, Bernanke and his brood have sent a clear message: The subprime meltdown and subsequent credit crisis are truly hurting the economy.
The whole world seems to have been waiting for this cut, and now that it’s happened, few investors know what to do. The Dow shot up 240 points within minutes of the Fed’s announcement, oil’s well past the $81 mark, and the dollar index is plunging toward 78…but will it last?

No matter what we should focus on the fundamental of the stocks we are holding, forget about the remaining. I personally think the rate cut this time still not good enough to stimulate a finish of the correction.