Strange matrix elements of the nucleon are calculated within the light-cone formulation of the meson cloud model. The $Q^2$ dependence of the strange vector and axial vector form factors is computed, and the strangeness radius and magnetic moment extracted, both of which are found to be very small and slightly negative. Within the same framework one finds a small but non-zero excess of the antistrange distribution over the strange at large $x$. Kaon loops are unlikely, however, to be the source of a large polarized strange quark distribution.

22 pages revtex, 7 postscript figures, accepted for publication in Phys. Rev. C