WHAT IF

Yes, what if Uncle Ben decides to raise again tomorrow; will the sellers overwhelm us? My guess is yes and check out Revshark who says:

"I'm using the opening weakness to start a QQQQ long position for a trade prior to the FOMC interest rate announcement. I believe we'll get a higher level of optimism and some short-covering that will boost us at least a little before the news hits. I'm going to try to catch that and have started averaging into the QQQQ this morning."

If they raise tomorrow, there will be lots of folks jumping out of stocks and that may be a pretty good time to buy. Right now, the sidelines looks like a pretty good place to be.

Market internals still bearish with 1,800 more losers than winners; biotechs, techs, airlines, small caps and brokers the worst groups with oils/metals and GOOG being the best. AAPL has gotten a bid and that may be something worth watching.