Spectating the Speculators

In front of the Fed later today, I remain in a full cash position not inclined to trade this grinding action. It is very easy to get chopped up in this type of tape, until we see resolution from the many underlying divergences and spreads. The recent wild price swings of late simply indicate how much indecision there truly is in the market.

If we do see weakness after the Fed later today, Visa is on my radar as a short setup down away from its 200-day moving average.

I have maintained that Zillow is as impressive as any growth stock in the market, and that continues to be the case today.

What are you trading this morning?

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I mentioned overnight that Starbucks was notably red onTuesday, despite many beaten-down stocks bouncing.

That is, typically, a bearish circumstance for the stock as it indicates a lack of demand even at seemingly bargain prices, or at least temporarily oversold levels.

As a result, on any further weakness, especially if we see selling in the tape after the FOMC, I have Starbucks on the radar short.

The stock remains in a downtrend on the daily timeframe with tons of overhead supply and damaged technicals.

What are out checking out this morning?

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With silver miners strong on Tuesday, low-priced Great Panther is one to watch on the long side as it tries to emerge from a well-defined daily chart falling channel consolidation, seen below. If the metals and miners find a bid after the FOMC, I would consider a long over $1.10 for this high beta miner.

Also on my radar long in the commodities complex: BAL CORN JO SGG SOYB WEAT.

On the short side, I am looking at a name like SBUX which was red despite Tuesday’s market rally.

Drop me your top tickers overnight.

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Enjoy tonight’s video, and enjoy your evening. 

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DDD is giving us a good reminder today that momentum cuts both ways.

Just as some stocks become drunk on the way higher and go parabolic, there is no guarantee they will calmly obey your perceived support level on the inevitable downside snapback.

I remain in cash in front of the Fed, and will likely maintain that position until after the announcement

Who is playing TWTR earnings tonight?

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