- New Trades -
(September 8, 2015)
The market volatility continues. Stocks suffered big swings last week and posted its second worst weekly performance of the year. The big moves continued today with a widespread +2.5% surge.
The market continues to move on central bank moves and expectations. Today stocks were bouncing on hopes the Chinese government would boost their stimulus measures after another round of disappointing economic data.
Soon the U.S. market will face the biggest FOMC meeting in years. The Federal Reserve refuses to give up on the possibility of raising rates at the September meeting. For every pundit and analyst who says they will raise rates there is another that says they won't.
I am not adding any new trades today. Odds are good that stocks will remain volatile the rest of September. The Fed decision on September 17th could impact trading the rest of this year.
That doesn't mean we don't see opportunities. Tonight we have refreshed the watch list with several candidates:
AMBA, CLX, FIS, LGF, and OA.
I would be cautious on launching new trades. Consider starting small and then adding to positions as time passes.