Fed Day

Whoo hoo fed day...the day where a private group of old wankers come out to destroy the value of our dollar further!!......

Markets are up big again today...but are we setting ourselves up for a big "sell the news" rally?

I really think so...we'll know in about an hr!

UPDATE 1:

We didn't go cratering. Surprisingly...

Dow hitting 13k, nasdaq at 2400, s&p at 1400. My post from earlier this month came true. If theres anything I can be proud about...I guess it's that!

I am starting a short position on PWRD. It is up another 4%~ today @ $29 off the news that it is collaborating with Intel and Haier to develop games. Nice and all, but it has ran up nearly 25% in the past month. Add it to my theory that the dow has seen a temporary top, I believe this one can correct to $25. Not a bad trade for such a cheap stock. I'll initiate half my position today. And save the other half just in case it peaks at $30. Stop loss at $31.

2 points downside, ~5 points upside. I like the odds

Disclosure
Long AAPL, GOOG, 25% MOS
Short PWRD

UPDATE 2:

We are cratering now!!! Bunch of slick Ricks on Wall street delaying the selloff!!! Hope you guys took profits!