I have been very supportive of the Fed and Chairman Bernanke - at least as far as letting them do the job that they have been hired to do. Investors should not pretend to be economists and ECONOMISTS SHOULD NOT PRETEND TO BE INVESTORS.

One of my constant comments on this topic is that the market is way too obsessed with the movements of the Fed. The past few weeks has been an extreme example of how dangerous that can be. First we had the market decline which caused Cramer’s blowup on how asleep Ben and the rest of the FOMC were. When we rallied this Monday, Tuesday and Wednesday, Bernanke was given credit for his calm. And yet, somehow we went from calm to extreme intervention in 48 hours. I am not Fed up with the Fed regardless of what they do. They are just one small factor in what I do at HEDGEfolios and the performance of my signals should encourage you that you can do well with a balance of fundamental and technical analysis.

I’ve heard how the Fed’s liquidity “saved the markets” yesterday. If investors believe that - then capitalism has been dealt a serious blow. If you need the Fed to cut rates for you to be an investor, then get the hell out.