The Federal Open Market Committee announces its interest rate policy decision at 2:15 ET tomorrow. No matter what the decision is, I expect the market will be volatile, as has been the norm on these policy statements.
This is why I urge caution by building into cash before the announcement. It would be nice to be able to gauge the velocity, but the market can, and often does, move both ways shortly after the announcement. There will be plenty of time to put your money back to work, when the risk of getting whipped out reduces.
The watchlist does not have as much variety since I emphasized stocks with the highest moving (relative) volume on the watchlist, in hopes that we will pick up a few movers that you can easily exit prior to the FOMC announcement. Semiconductors were once again the number one sector.
Longs to watch: AWE, BBOX, BRKS, CHRT, MTLK, OPMR, PSEM, RMDY, SBL and TFS.
Good Trading!!
Sam
savvy-trader.com |
