KALTBAUM PREMARKET

First off:

 

AMGN,FB,GILD,PNRA,SLAB,LL,REGN,SAP are gapping up. There are a few other mini-gaps.

 

NFLX,NSC,BWLD,LO,TPX,KMT,IRBT and a few others are gapping down.

 

Market gapping up a wee bit as foreign markets continue to have better r/s. At this point, I play it by the book…we wait for a follow through day…and that cannot happen until Monday…and that is only if we have an up day today. The FED does announce another “decision” today. Blah blah blah.

 

I have been bearish on FB since day 1. It is up $5 on the open even though earnings were up a big fat 0%. Market is liking their mobile number. I have no bias except what is in front of me. Today’s action puts FB on my screen for the first time since going public…stay tuned.

 

Otherwise, expect some upside here especially with the nasdaq down to the 200 day average where it is normal to hold the first time it hits. It will be vital that it ultimately holds.

 

AAPL and AMZN report tomorrow. AMZN estimate is for another loss…which probably means it is up big. AAPL sandbagged the number again. At least, they had better have sandbagged.

 

KORS still acting fine…and would not be a seller until the 50 day is taken out with volume.