Thursday, December 15, 2016

The FED Is Out Of The Way, Now What

The FED raised rates yesterday, the DOW continues to flirt with media grabbing 20k level, energy companies took advantage of the recent rip in oil to announce $2-billion dollars in secondary and the year is coming to an end.

The indices were down across the board, the negative action took place after the FED meeting. Gold (-1.47%) and the gold miners (GDX -5.47%, GDXJ -6.40%) were the biggest losers, and they are following through this morning.

Looking at the big picture, the SP500 is still trading well above its recent 2.7-year breakout as you can see in the chart below. In other words, if your timeframe is longer than a few days then things are fine. Pullbacks will happen, but as long as we stay above, 2,080 things will be okay.

With that being said; below are the stocks on my watchlist today, I have an interest in these stocks on the long side if and only if they go through yesterday's high.

Frank Zorrilla, Registered Advisor In New York. If you need a second opinion, suggestions, and or feedback in regards to the market feel free to reach me at or 646-480-7463. 

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