Wednesday, September 18, 2013

Fed speak today!

Will Big Ben  Be a Hero?




Yesterday was an uneventful day for me I sold off some $RGDO right off the open and I added some $HZNP to my lotto position. For the rest of the day I watched stocks like $FU $NNVCD, $CTIC, and $Halo have little pops without me. 
There just wasn't a lot of follow through which is typical when the Fed is on the horizon. I expect more of the same today. Some light choppy action right up until we get a Fed announcement. Then we will get the initial reaction,which is usually a head fake, then the all the analysts will pontificate  on what it means and how it will affect the economy. Which is basically a guess since no one knows what will happen next week in the economy with complete certainty. It's all a big guessing game in my opinion. So what do we do? 
 We make sure we don't have to much exposure and just like any other day we play the market that is in front of us. Make sure you lighten up right before the Fed announcement in case there is some sort of surprise. Wait about 30 to 45 minutes after the announcement and resume trading.  
$FDX raising their guidance could be good for the markets today. 

Morning movers and other stocks that caught my eye
$ALSK I like the daily, $IMMU daily, $BCRX  20 day continues to hold, $MDGN continuation?,$HALO continuation, $MILL bounce off the 20 day, $FXEN daily kinda hot, $TEAR hot daily, $STXS pr  ,  $MM gap fill?, $MXWL hot daily and PR  , $HIMX active premarket 52 week highs, $TASR pr, $ATOS pr 
Carry Overs
“Carry overs” are stocks that I have featured in prior videos, have on my alert list or tagged on my morning mover lists that still have a potential setup working or developing on the chart that may be actionable. They are still on my radar and I am either already in with a swing or I am looking to enter on a breakout. I am also looking for the setup to breakdown at which point it will discard it from my hot watch list. If I am already in it with a swing I am looking for a place to scale out or exit the trade and on rare occasions I may be adding to my position. Typically I like to sell into strength
$DRII, $RGDO, $TPC, $CETV, $BCOV, $BONE, $BBRY, $BIOL, $CLNT, $DSCO, $ECTE, $GEVO, $EXTR, $LVN, $OIBR, $OPXA, $MGM, $RMTI, $CTIC, $IPI, $SGMO, $OSUR, $INO, $PIP, $CUR, $IMMU, $MTL, $HBIO, $NCIT, $BEAT, $KTOS,$MEET, $REE, $QTWW, $BCOV, $EMMS, $SGOC, $ZIOP, $ZLTQ, $KERX, $IDIX, $RKUS, $LEE, $EVC   
Seeking Alpha
Today's Markets:
In Asia, Japan +1.4% to 14505. Hong Kong -0.3% to 23117. China+0.3% to 2192. India +0.8% to 19962.
In Europe, at midday, London +0.15%. Paris +0.5%. Frankfurt +0.5%.
Futures at 6:20: Dow +0.1%. S&P +0.15%. Nasdaq +0.3%. Crude +0.7%to $106.15. Gold -0.6% to $1301.60.
Ten-year Treasury Yield flat at 2.85%.
Notable earnings before today's open: CBRLFDXGISMANU
Notable earnings after today's close: ORCLSCS
Good luck trading today !!