Fed-Day Tread Cautiously

Mega cap tech earnings reactions were soft and the market is priced for perfection. Here's how we are going to play it.

PRE-OPEN MARKET COMMENTS FED-DAY – The first round of earnings releases from mega cap tech companies (AMD, MSFT, GOOG) produced a negative reaction. The numbers were excellent, but the expectations were high and good news was priced in. I believe that the FOMC could have a similar impact today. If you have been following my advice, you pared back risk and you took profits into strength.

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