A LOT OF WAITING FOR THE FOMC TO MAKE AN ANNOUNCEMENT

There was a fair amount of selling today ahead of the "Fed's" announcement tomorrow. The FOMC is going to announce whether or not interest rates will stay the same or if they are going to move it up or down. The consensus is that they will cut interest rates again which is what I am hoping for. Sure it will weaken the US dollar, but it will allow stocks to rise in price.

I was scouting stocks again since I am looking for buys after BLUD and AMZN knocked me out of a couple of positions. I got in on GPOR and I am hoping it finds "support" at the current price of $21.00. Currently it is sitting at an 8% loss from where I bought it. So if it drops only 2% more, I am getting knocked out of another stock.

RIG is hitting $120 and is acting as "resistance" currently. I pray that it it going to breakout since oil prices continue to rise. I guess oil & gas drilling is really not a good industry to invest in currently.

I am going to put ABAX on a target to buy. Click on this chart to see where I believe the proper buy point and maximum buy point is. Once could say that the proper buy point is lower than $27.10 since there is a "cup with handle," but the breakout was so big I am willing to move my buy point up a little bit.

Pray that the Fed cuts interest rates.

Good luck trading.

JD