We didn’t see anything we liked this morning. Futures were down and things gapped down looking like they might sell off this morning, but things have recovered. Some days it’s better not to force any trades. We wanted to see how the markets were going to react the day after the Fed cut and so far things look to seem bullish. We’ll be back tomorrow. Have a great day!
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The Fed did the .50 cut which is sort of already baked into the markets. Markets still liked the news and things spiked up. So if you were able to get in on the 44.50 break that we talked about this morning congrats! If you didnt get out at the 45 target, now might be a good time to do that it’s currently at 44.80. Thats it for us for the day that was a wild ride!
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Looks like things are sort of looking bullish, things can change in a hurry, but if you entered the Q’s on the 44.50 break, it could be a good scalp play here. We don’t plan on doing much until after the Fed announcement.
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With the Fed making a decision today, we’re not going to make any early calls. We’re feeling a little bearish sentiment around the markets though, so we’ll be watching the indexes today (SPY, QQQQ,DIA). We’ll be watching the Q’s, on a break below 44 we like the short side of it, with a TIGHT stop just above it. Now if the market reacts bullish look for a break above the 44.50 range and do the same.
Tomorrow we should be back to “normal”.
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Consider taking some profits here. Almost hit the target of 54, but lets not get greedy! Good trading! If we see anything else we’ll let you know!
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Markets appear to have caught a spark with the earnings last night. Futures are up, but remember the FOMC meeting is today and tomorrow and the news of whether or not the Fed does any more rate cuts will be the true indicator of which way the markets head. We don’t want to force any trades, but on our radar this morning…
We’re watching VMW as a short. This one has very large swings, and it’s already down nearly 30%. If it gets any pops it may be a good continuation short. If it breaks 58 it may see 54. With the fed decision looming be cautious in your trading.
We’ll keep you posted.
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MELI is just about at the entry. Consider taking a break even/small gain here. Good trading today!
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If you didn’t get out earlier Target of 27 was hit!
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Consider taking some profits here at 26.45 on ACOR!
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Markets this morning look a bit lower. Futures are mixed this morning. We’re leaning on the bearish side . On our hit list this morning:
MELI Short may test $40
ACOR Long had some good news may run up to $27+ range.
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