Today on the Marketbeat - FOMC: The 400lb Gorilla says nothing...

Today on the Marketbeat - FOMC: The Monster truck hits Wallstreet 

Closing #'s

DOW: +141 to 11,059

S&P: +17 to 1,210

NASDAQ: +19 to 2,199

RUS2K: +16 to 706

TSX/S&P: -79 to 12,174

VIX: -1.17 to 30.53

Internals:

Core Sector List: 13/3

NYSE

BREATH: 2:1

TRIN: .63

NASDAQ

BREATH: 2:1

TRIN: .68

Today the theme on Wallstreet was: What would Bernake Do? and the answer was an emphatic nillage (nothing in old terms). The Fed decided to leave the rates unchanged, letting problems sort themselves out on their own for now. With the usual inital madness post news, the market sorted itself out and found a direction, which was surprisingly bullish for the remainder of the da, with the DOW finishing up 141 pts, with a 360 pt swing from the lows (S&P up 17pts, with a near 50pt swing off the lows)

The vix made an interesting topping tail today moving off the highs today in a solid looking fashion. The Breaths found a direction post fed words and it was bullish, and the core sector list finished 13/3 to the bulls with Drugs, Utilities & software on the downside. Considering the news of late, with major banks fallings out of the sky like Geese in hunting season, its a good sight to see the marketing finding a short term bottom and finding some buyers amidst the madness. Are we out of the woods yet? I wouldnt bet on it, calling bottoms is a dangerous busniness. But with all the bad news coming out now one could imagine that we could start seeing some light, after all they say when everyone stands together saying the sky is falling, its usually a sign that the light is on its way. 

Unusual Options: 

KFT / ACF / AMGN / RY / DBA

Food 4 Thought to Use with Stocks:

Pivot Points/Futures Site - http://www.mypivots.com/

Trade Setups : Today Id like to discuss the importance of having pre-made trade setups. Most people have an idea of their entry and exit points before they enter the trade. But one thing that could help the use of those entry/exit points is having a pre-made setup to go alongside your trade strategies. For example, lets say you wanna go long some 6 contracts of the ES futures at 1200, and you have one exit point, but beleive it could go higher, Well you set up an order template that has a stop 2pts under your entry, and 2 targets, one at your target of 1208, and then a second at 1212, with the first target selling 4 contracts and the second selling the last 2 - while the stop will correct itself accordingly. This can be a useful way to eliminate emotions from trading as all your exit points are put in when the trade is on.