Wednesday, September 16, 2015

Bullish Ahead of the FED...09.16.15

Another solid green day although volume was muted and the transports did not join the party.  Based on the action yesterday and today it sure looks like odds favor the bulls, regardless of what the FED decides.  We need to heed the the rumor, sell the news...just in case it turns out that last 2 days gains have been mostly market manipulation driven by the HFTs...
For my own purposes I favor a delta neutral approach for Thursday's blastoff...a bracket order placed at today's close with equal dollar amounts of SDS and SSO and a fixed limit stop per the M3 site settings.  In most cases this is a no maintenance trade but for tomorrow I'll be keeping an eye on it just to make sure the highly probable wild whipsaws don't close me out of both sides of the trade.
Good luck Thursday!