After the close yesterday the Fed announced a small rate hike for the discount rate and triggered some panic selling, but the damage has not been as bad as it could have been this morning. The first trade of the week was CROX with a trigger of 7.65, adding above 8.20 for a short term target of 10. FCX has rallied with commodities, triggered long above 75 and closed well yesterday, although it will likely be down slightly this morning. The ultimate target is 79. WIth ASIA, the trade has triggered long, but the Chinese markets are closed today. PWRD is a little sloppy, but the trade still looks promising based on the flag that has formed. We will continue to look for volume to confirm a move. NKE is a short from last week that you should still be on your radar.
Join the Discussion