MR. BUBBLE HAS NOT…IS NOT AND WILL NOT STOP THE PRINTING OF MONEY

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OK…let’s get things straight. Mr. Bubble has not…is not and will not stop the printing of money. All this is noise. 

The Federal Reserve on Wednesday said the U.S. economic recovery had lost momentum so far this year, but stopped short of offering new monetary stimulus even as it signaled further bond buys could be in store.

Fed officials described the economy as having “decelerated somewhat,” and reiterated their disappointment with the slow pace of progress in bringing down the nation’s 8.2 percent jobless rate.

Continued

SOURCE: http://www.cnbc.com

kaltbaum premarket

Not going to do anything on fed day but as I said last night…a few potential things forming.
 
Futures up decently into the fed in spite of poor numbers from europe. ADP numbers were better than expected but they are fake…and expect employment numbers to somehow get better into the election. Hint!
 
Market being led by defensive which I dont understand. Guess it is value play as a name like LLY has earnings down 30% and sales down 10% but it still breaks out.
 
Recent move up in market also led by worst areas as semis,commodities come off lows…especially oils. Even steel starting to move. I will not be weak areas. I buy strength in growth…where still not a ton going on.
 
AAPL up another $6 premarket as it is back in base…and not sure how to play just yet. First play could have been back above 50 day…but easy to look back.
 
Will sit and wait to see what fed does. Have no clue what they do or how market reacts. Tomorrow is the ecb turn and Friday is the fake jobs number