Look for a gap fade assuming we get one either way. Usually FOMC week the day after follows the day of, so a gap up is definately fadeable short in my opinion.
That was a wicked selloff post FOMC, it'll either be a one day wonder or a more extended move down. Its interesting here since we're a week out of end of the quarter, but have that weekend in a couple of days so anything can happen here in front of that. The wicked selling could be ominous that the Emperor finally is starting to realize it has no clothes, or...just another buying op!
Thanks for the comments about last nights post. I'm tired late at night, what can ya do if I get a little dark sometimes, but as always I appreciate the comments, even if they don't agree with mine. Hey, that's America baby, and that's why ya gotta represent.
As I write this futures are muted.
Big IPO coming today as well, AONE. It'll be interesting to see what they open it at. If it opens reasonable its a good buy, but more then likely it'll get bid to kingdom come. Best would be if we had a really down am and it came in the midst of that, get a decent open and I would buy it and see if I can catch a few points. Otherwise will just sit back and enjoy the fireworks!
In the meantime, make sure you protect your gains here, folks! You been warned! End of quarter sometimes starts a wee bit early and while I can still see us hitting 10k here shortly, I wouldn't be shocked if we saw our peaks for the moment either. Yeah, I'm non-commital here, I'd rather just be nimble.
There's a Chinese stock I like and own small that is under accumulation it appears. I'm trying to get some more info and will tell clients as soon as I do, but so far what I know I like it a lot...stay tuned!