Day Trading

Posted by downtowntrader | 9/16/2007 10:21:00 PM | 0 comments »

With the Fed meeting coming up on Tuesday, and all the uncertainty, I think it makes sense to not recommend new swing trades until after the reaction. I will not be initiating new positions other then daytrades as well. One group that looks promising for tomorrow (daytrades) are homebuilders. It looks like they may get a short squeeze heading into a fed meeting where a rate cut seems like a foregone conclusion. They may keep running after the decision as well, but who knows at this point. I'm looking at BZH as a possibility here. Also, momentum stocks like AMZN, BIDU, RIMM, WYNN, LVS, etc. have been giving good intraday moves.

Good Trading,