Market Update and earnings Plays

Published: Wed, 04/29/09

FOMC rate decision wil lbe released at 2:15pm et today,The markets are pushing the highs of the day with big resistance right at 875. So after the decision things should move a bit, the positions taken the last two days are holding up nice. Profits could be taken here in front of earning in AP, OXY still looks great here and I am continuing to hold both.
 
KFT feel the bottom is in this and this wil lbe a nice swing trade to a target of  25.50-26.00
 
RACK expect big things and INSP 
 
INTC also expect a push back up over the 200 ema
 
The 200 ema is coming into play on a lot of stocks now. I will watch these levels to trade off of.
 
Earnings plays tonight
 
V and AKAM  I am holding V and expect to hold it into earnings AKAM i am not holding, but expect a pop, and would buy on any pullback on earnings
 
 
MT gapped down with earnings and still in not adding
 
Drugs not really moving here yet, but will see that sector rotation coming down the road
 
more to come..
 
BA looking good for follow through tomorrow
 
 
Taking my SDS off here on the break of 875