https://screencast-o-matic.com/watch/c0nVYkVxtPmThe Fed has spoken with a lowered .25 rate hike and expectation of more hikes to follow. Thus far the market is reacting positively to the news. However, keep in mind that we've seen the market pop on the report on day 1 only to reverse in the coming days.
For this reason, I'm taking profits in MSFT as it enters profit range to minimize overnight risk. I do still like the stocks. It's a great example of the "over-reaction" reversal play during earnings season. AMD, ODLF and PTON are breaking out on earnings today, while SNAP is breaking down. Recent breakouts AMD, ALLY, NFLX, JPM, ADBE are on watch. Lots of stocks setting up. If the market holds up the rest of the week I would like to add 2-3 positions from CCL, SIVB, UAL, FCX, SE, BYND, EXPE, DOCU, ASML, CROX, WING, FSLR, PATH, NFLX, ALLY, ADBE, JPM, SHOP, ODFL, PTON, AMD.
The game plan is to start the week cautiously stalking setups, and waiting for the post Fed decision price action and earnings to define the rest of the week and start of the new month. I am becoming more bullish. Current positions:
Still holding SQ, CELH, MSFT Big Tech Stock List: AAPL, META, MSFT, NFLX, GOOGL, AMZN, MSFT, NVDA, CRM, ORCL, AMD, TWTR, DIS, JETS, BJK, PEJ, RSP, QQEW, EWZ, FXI, Key ETFS: SPY, QQQ, IWM, UUP, UVXY, ARKK, IGV, SMH, XLC, IPO, XLF, XRT, XHB, XLV, IBB, XBI, XLE, USO, DBA, DBB, XME, GDX. GLD, SLV, TANhttps://screencast-o-matic.com/watch/c0nVYkVxtPm