Wednesday, September 21, 2011

Fed Day...

A gap down today would offer a nice opportunity to cover shorts. Fed days have the tendency to melt up into the 215pm announcement, especially after a poor close the day before (yesterday). A pop usually occurs from 215-3pm which is usually something to be sold into again. A strong finish to Fed day many times results in a very weak tomorrow.

Game plan: Cover shorts early, go long early, sell longs after annnouncement, go short after announcment, cover shorts tomorrow. Ready? Break! :)
Posted by at

4 comments:

  1. RealMoneyIssuesSeptember 21, 2011 at 12:07 PM

    Uh, I thought we were swing trading not day trading... :p

    ReplyDelete
  2. JamesSeptember 21, 2011 at 12:41 PM

    SEC allows 3 free round trips before slapping us with the dreaded PDT label. :)

    ReplyDelete
  3. RealMoneyIssuesSeptember 21, 2011 at 12:49 PM

    USAA does'nt...

    ReplyDelete
  4. RealMoneyIssuesSeptember 21, 2011 at 1:42 PM

    Well, I am thinking of putting in a stop-limit order on TNA for 41.40/41.60 in case the market goes up and on TZA for 46.02/46.22 if the market goes down...

    Thoughts?

    ReplyDelete

Subscribe to: Post Comments (Atom)