Over with the FED

Well I will first start by saying, there is no way reading this blog you should not be making money. I have been dead on with which stocks to play the next day as 10 am set ups and most have been monsters. Yesterday GOOG and POT mentions got awesome moves today.
I think financials are at a top here. I am sticking my head out here but I think it is a good play. GS at $190 is just too expensive here and although the market can be irrational for along time, I think financials are very toppy here. Also I don't believe the sell off in agros will last. I think these stocks will be the big movers this year. I am currently long IPI the ipo from last week and although I am down on it I am not worried as I think this will have strong support when the agros start to rebound.
Tomorrow I will be looking at those two sectors for some plays along with the big techs, the usual GOOG, BIDU, RIMM and AAPL.
Some of these tech stocks have run up alot in the past few weeks and the trade is getting very crowded so be careful and fast if you take them long as the risk reward will soon be on the short side, especially for AAPL and BIDU.

Have a good May and trading day tomorrow

GOOG and POT

WOW called those 2 dead on last night. POT +$6 here and GOOG +$25 that's surely heading to $600.

POT

POT got a deep sell off due to commodities sell off. I still think this stock goes higher.
Watch it till the end of the week and I might make a trade call for it long. $150 area should prove to be very strong support.

BIDU and GOOG

These two stocks seem like they want higher.
BIDU looks like it wants an all time high near that $430 area.
GOOG looks like $600 is a magnet on the charts.
Keep an eye out on these two stocks for 10 am high plays.

Today is FOMC day

FOMC announcement is today. Many believe we will get 25 basis point cut but some like me believe they will do nothing. I think no matter what they say, initially we get a sell off and then bounce again. Tech is very strong here and when we bounce I would be buying GOOG, BIDU and AAPL, these stock are on complete fire.
Commodities are pullback here and I think they have more to go. I would not be surprised to see gold at $825 area and Oil @ $105 in a jiffy. Also wtahc china stocks here like EJ which seem to be getting some interest along with SOHU.

Citibank

Some of you might think i am obsessed with Citibank and Fannie Mae. YES I am because they wont tell you the truth.
Let me ask one question, why did Citibank just offer out $3 Billion in additional stock after hours, essentially diluting the amount of shares outstanding, why? If they dont need more monies as the talking heads keep on saying why>? Stock is currently down 4% after 4pm, we will see how this will play out in the next few days.

Citibank is a $15 at its best. Don't believe the street.
Financials are no where near a bottom, this is just a bounce in a bear market sector for them.

Oil and Gold

Oil and gold on the retreat as the dollar strengths here. Oil down $3.60, Gold down $20
Hope those of you who trade FOREX shorted the Euros on the weekend blog note..