FED Move

What an ingenious way for the Fed to get out of the rate cutting business and still save the day. They told the brokers today we will take your crap and we will give you some treasuries. It gave the discount window a whole new purpose and maybe changed the way it is actually defined going forward.
How long do we bounce will be the BIG question. Alot of smart money will be active tomorrow and I expect a dull day to digest the huge gains we had today. Tomorrow alot of bear will come out saying this is a band aid solution and point out where the real problem lies. Others can easily debate the opposite side of the issue saying the FED is on Wall Street side.
Whatever it is I will be doing some set ups tonight although it will be tough with the strong day today. I think we have a shot for the NASDAQ to hit 2296 before we reach first critical resistance.

I am making a list of stock which I think will make monster moves in the next 12 months. I am only going to give them out initially to loyal readers and they must sign up for it by email.

I might make a trade on USO short tomorrow or later this week as a potential setup. Just a heads up there.

Have a great Wednesday trading

NICE to be accurate

Read the blog posting entry for yesterday evenings of a possible catalyst. Wow I just FELT it in all seriousness that something was in the works and then bang this morning liquidity injection by the FED and futures up huge.
It is goign to take alot more than this to save us but as said yesterday I definitely see oversold conditions but where we bounce to is the question. I WOULD LOVE to see us bounce hard as to set up some monster shorts and get back on stuff like SKF !!!

STAY TUNED- WE ARE TOTALLY ROCKING ON THE MARKETS