Online Stock Trading | Markets continue to wait on FOMC

Markets continue to wait on FOMC


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The market continues to fall back from last weeks rally.  Traders continue to gauge whether or not Ben Bernanke and Co. will decide to push the Fed Funds Target rate lower by 25 or more bps.  Since last weeks confirmed rally by the IBD 100, IBD 85-85, and IBD New america stocks haven’t gained the necessary steam to push the market higher.  I fully expect to see the market bounce around until next weeks FOMC meeting.

Its to difficult to predict where the market is heading or how it will react to certain news events.  The fact that the IBD 100 and IBD 85-85 which contain leadership within the market tells me there is still some strength left in this move higher.  Whether or not this comes true is anyone’s guess.  At this point, I think its best to play stocks showing superior sales growth and earnings.  Wait for these types of stocks to breakout on sizeable volume.   I am keeping my losses short if I go long any stocks, use 7-8% as your cut loss.

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