Post FOMC Meeting...
Wednesday, September 20, 2006 at 04:14PM This is actually one of the least volatile FOMC meeting day for as long as we can remember. From hours before, minutes after the announcement, and right through the end, the index probably hasn't moved more than 10 pts in either way. Obviously traders are complacent about what they are hearing and most people liked this action enough.
For the DJIM stocks, of course we are having another great day.
SYX, this one was posted last week b/c we thought it has the potential of making an IBD run. The stock hung in tough in the 13s during the last few days despite some intraday weakness here and there. Alas, it's almost inevitable that these 99 99 rating stocks will always come through, given the appropriate float. It definitely didn't disappoint and busted through that all important $14 psychological mark. The rest, is just history. We added quite a few today welcoming the change of pace of trading. The volume today indicated there's more(positive) things to come. Momentum again is in the air and we can definitely smell both greed and fear(of not getting in). How high will it go? Nobody has crystal ball but if you trade according to the action, these kind of stocks usually give you more joy than pain.
EDU, we added some of this one here and there throughout the day. We like its action and think it may put in a bottom around $26.50. This may not have the IBD kind of momentum but the buzz and story behind this one is more than enough to make this one to go significantly higher.
We are also adding BDC SIM(IBD play)and CSH to watch.