This post was just published on ZYX Short Change Alert. Consider adding a 10% tranche to SPY short in the wake of the Fed statement. SPY is trading at $187.20 as of this writing. Please see the prior post for details.… Please click here or the title below to read more.
Today is the Fed day, a day when after the FOMC meeting, the Fed releases its policy statement. Today is also the first press conference of Janet Yellen as chair of the Fed. But regardless of it being Yellen’s first meeting, Fed day provides a gold mine of trading opportunities, provided you have a plan in place.
Today is one of those rare times when it is not going to matter much to both the stock and the bond markets as to what the Fed says. The trading will be mostly dominated by the technical mechanics. Let us start by taking a look at the annotated chart.… Please click here or the title below to read more.
This post was just published on ZYX Short Change Alert.
Consider taking more profits on a 10% tranche on gold miner ANV in the zone of $5.55 to $5.75. The stock is trading at $5.71 as of this writing. After this profit taking 40% of the full core position size will be held.
The reason for this profit taking is that the momo crowd will try to buy gold around the time of the Fed announcement. If gold falls after the Fed announcement, the remaining quantity will still be held to profit from. On the other hand if gold rises, there will be more flexibility to add if that is warranted.… Please click here or the title below to read more.