THE SELL OFF

That was quick as markets sell off hard after the FED announcement- a delayed reaction as markets were initially trading higher.

No idea - why but maybe a sell signal as the DJIA touched 13,000 and the SPX was back over 1400 for a moment or two.

Also, as I suspected the dollar getting crushed into the carnage while commodities make their way higher off the earlier lows. Note the best performing sectors as I type- metals, steel, emerging markets, energy and ags.

The NAZ after being higher by about 25 points, trading down about 12 while the SPX is back at support near 1385 after being well over 1400.

And if you want more food for thought- the SMA 200 on the various major indexes- DJIA 13,060/ NAZ 2455 and SPX 1407/ GS 196.

How about that call at 2:40 by Kramer as he insisted there would be mark ups by institutions "now that the FED is out of the way and didn't surprise." NICE!!!