NOW is the time to have a plan for after the FOMC meeting concludes. In trading "pivot points" are key areas in stocks to look for long or short. We are in a "pivot point" in the market right now.
Here are some tips I am using and recommend:
1. Play it smart by playing it safe
Have an exit strategy/price for long or short positions
2. Make lists of companies/etfs to play if either the market swings up or swings down
a. short: QLD, long MZZ, TWM, SKF, others
b. long: (for trades on a bounce)- look for financial companies/etfs like GS, UYG, BLK and go to shortsqueeze.com to double check for short interest. Also look for companies set to break out on the charts. Now is the time to have a quick list ready to go... scan through the charts of companies of interest and be ready to go... that's what I am going to do...
3. Pay attention. Please.
We are at a very critical point right now in the market. Every decision right now should be in the light of the bigger picture of the FOMC...
Best,
Jon
This blog is for informational purposes only. It does not give investment advice.
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