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5 Names I’m Watching Post-FOMC

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Brought to You By Scott Redler's Power Plays – Get My #1 Idea Every Week.

We have mostly green arrows around the world as stocks power higher. The Fed cut 50bp, and yesterday was a tug of war in the U.S. markets. Yesterday, I warned that the day after Fed Day is much more important.

Today SPX futures are +80 and we are looking at new all-time highs.

QQQ looks above the mid-level downtrend pivot line of $477-$478. We'll see if that holds and builds.

XBI is flirting with the $103 area again. This time, it looks like the rally will stick and I see potential for a move to $110 to $115.

Now let's dig into some individual names:

NVDA was super weak yesterday. We'll see if that changes today. $118-$119 is a key spot. If it can get and stay above that, the semis can get better. Watch it for clues today.

AMZN became another nice swing long since reclaiming all the moving averages around $178-$179. I managed the trade. I still have it. I'll trim and hold as we see if it can hold $189ish to build or fade.

DASH has been a great focus from the $128 area. It was upgraded this morning and looks over $137+ to manage. It could see $143+ in time.

RDDT is still building a huge base from the IPO. The last time it tried to break out, it failed. It has a decent base now. I did buy some Monday and yesterday. I'll trim and trail but this should be on the radar.

CORZ has been great to us. I bought stock around $10.20 and now it's at $12.60+ to manage. It can hit $18 to $20 in the months ahead. This moves with BTC but is much better than most miners.

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Scott's Positions Disclosure as of 2024-09-19 at 9.33.58 AM

 

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