The Day Has Come

The Fed will give their report on interest rates, and the market will as usual, overreact. Find the direction of the market, and go with it- the trend should last all day. If it’s bearish, we could be in a lot of trouble.

Here’s what I’ll be watching:

If Market Rallies [quotes]

• TIE– possibly will break $30.
• ZOLT– a nonsense spike to $25.
• RTK – a Cramerite stock that follows the day’s mood.
• LBIX – took a hit after Hansen (HANS) bloody Monday, a sympathetic bounce is almost certain, and a rally would help the push.
• MA – MasterCard is raging right now

If Market Tanks [quotes]

• GRMN – the RSI is declining fast, and so is the stock. All it needs is a bear market playground, and the shorts will have fun.
• MA – rats might take profits off table faster than we think
• KTCC – a haircut worth a few quarters
• GOOG – struggling to get back to $400, but a rate hike won’t help.
• NVEC – stock is en fuego, and Bernanke has the water to put it out if he wants to.
• HANS – heavy duty sell off in effect. Lack of buy-the-dippers would send this stock far down to next support.
• BDCO – oil coming back down, so a lack of buyers will send this down hard below $5 again.

Inflation-Proof (stocks w/ their own stories) [quotes]

• BPT – panic selling yesterday after news of erosion. We could see a dead cat bounce, but I still think shorting above $80 is okay.
• ICLR – stock has been rising on low volume. The company is in Ireland.
• FTEK – so far moving up, but could be in part to shorts covering after earnings (which weren’t great) and fear of a post-Fed rally. May go down after Fedspeak, no matter what they say.
• JOBS – profit taking in effect no matter what Fed says. Earnings call.
• FMCN – another popular Chinese stock showing signs of weakness.