My PANW long is back to the century mark this morning, as it continues to show signs of being as strong as any stock in the tape as far as institutional support and overall technicals. If we see a melt-up after the FOMC today I am likely add to this one and make it my biggest position.

As far as my shorts are concerned, they are all over the place–The Russia short shook me out yesterday but is back on track now. I scaled profits with a cover in SBUX yesterday, and did the same with AMZN previously. However, I may add back to both shorts if they remain sluggish like they are today.

Bonds are staging another fairly weak bounce, and I still have my TBT as a short bet on.

All in all, I expect the usual drifting action as we get closer to the FOMC today before the fireworks are likely to begin.

The following is just a small excerpt from my latest Weekly Strategy Session (please click on that hyperlink for details about trying it out) which I published for members and 12631 subscribers this past Sunday.

 Some sectors which could easily benefit from the higher rates, at least temporarily, are regional banks and insurers.

Two actionable long ideas from those sectors, if this thesis continues to play out, are HBAN MET, both seen below on their daily timeframes with constructive technical setups (price basing tightly within the context of uptrends).

Please click here to continue reading

For you night owls out there, feel free to drop me any market/trading-related topics you would like me to cover in a weekend video.

In addition, anything else about the current market, and especially the big FOMC day we have coming up, feel free to drop below.

Speak your mind, night owls.

https://www.youtube.com/watch?v=Ur8rBhREsAU

The Ebola play, TKMR, is a long idea ons strength going forward, especially over $20.65.

On the daily chart, note the tightening triangle pattern after the initial spike last month.

Perhaps ebola is about to become a worse problem than we thought?

Drop me your top tickers overnight.

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Legs, not only meaning the bounce in stocks, but also the sell-off in bonds.

I still have a nice TBT position on, but elected to take off my TMV position just now inside 12631.

Stay tuned for my video market recap after the bell.

Here was my note to members:

Sold final piece of $TMV Long @ $46.48 from $43.86 core entry and $44.84 add to lock in the rest of the win in this triple bearish bond ETF. Still have $TBT position on which is a double bearish bond ETF before FOMC tomorrow.

3:05:08 pm EST on September 16th 2014

I reduced some exposure in my portfolio this morning, but am still short bonds and have a blend of some equity shorts and a long on now.

I am stalking the small cap ETF chart, again, on the zoomed-out 30-minute timeframe. I have not directly shorted them in a while, but a failed bounce up to $115-$115.50 would pique my interest. The chart remains corrective and should give you perspective that today’s bounce is nothing too bullish, yet.

Also, I am stalking natural gas and crude for longs with today’s impressive action.

Drop me your top afternoon ideas.

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