All investors will be eyeing the Fed today after a stock market bounce yesterday.
All Eyes on Wall Street:
All eyes on Wall Street will likely be focused on the Fed’s FOMC statement today at 2:00 PM EST, in which investors will be watching closely for any hints of easing or tapering moves. The Fed’s words have the power to roil markets one way or another, and today is no exception, especially considering recent stock market declines. Historically, the Fed has been known to hush Wall Street with more easing whenever declines happen, and today may just be one such case. Also, today is Dr. Bernanke’s day last on the Fed, and then it is Janet Yellen all the way.
We are also due for earnings reports pre-market from Boeing (BA), Dow Chemical (DOW), and Valero (VLO) in addition to after-market earnings reports from Facebook (FB) and Qualcomm (QCOMM).
Hindsight is a Beach and We’re Playing on It:
Yesterday was a loss as all three indexes went against us. The S&P 500 (SPY) rose .61%, the Dow Jones Industrial Average (DIA) rose .57%, and the NASDAQ (QQQ) rose .35%. Better luck today as we navigate these volatile markets.
Your Stock Market Foecast for January 28th, 2014:
I think investors will continue to buy today. The Fed opportunity is never too good to turn away.
Exchange Traded Fun:
Since we are going long, below is a list of long leveraged ETFs which we could potentially make money on:
SPDR S&P 500 ETF (SPY)
Proshares Ultra S&P 500 ETF (SSO)
ProShares UltraPro S&P 500 ETF (UPRO)
SPDR Dow Jones Industrial Average ETF (DIA)
ProShares Ultra Dow 30 ETF (DDM)
ProShares UltraPro Dow 30 ETF (UDOW)
PowerShares QQQ Trust (QQQ)
ProShares Ultra QQQ (QLD)
ProShares UltraPro QQQ (TQQQ)
The Long and Short of It:
The long of it today involves a potential Fed party and an overall technical bounce after severeal days of steep declines. Let’s hope we do better today. DN
This stock market forecast is for educational and informational purposes only. It is not intended to be investment advice nor an investment recommendation. Past performance is no guarantee of or indication of future performance and your performance may vary widely from any that may be indicated in this column. There is risk of loss in all investing and trading activities and you should consult your financial adviser before making any investment decisions.
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