Plays For Now

Ok...so i'm taking some shots before the Fed makes an announcement on Wednesday. I have extremely tight stops and if it works out...it works out. There was hardly any volume in today's action and I can't expect there to be any volume or participation tomorrow...That being said, here are my plays for tomorrow (4/29).

First up is AVID...I don't know what they do nor do I care. Obviously their earnings stunk and I have a short term target of $19.60 to $19.50'ish....again, just looking for a quick buck before the Fed announcement...

Second in the list...COP; ConocoPhillips; This is strictly a counter trend trade considering what Oil has been doing...Looking to call a top and I shorted it, again, today.

Third...FLR, and again, no clue what they do; but what I like about them is the divergence that I see...Higher high's on less and less momentum...it's rejected the 163 price level twice and I shorted it here...

Fourth, FWLT, I shorted this on Friday (the previous candle) and it didn't work out for me so I closed the trade before the close (didn't want to take a theta hit) and I reentered today. A lot of topping tails forming at the 70 level and MACD looking to roll over. (However, you could play it as a bull flag which is why my stops are so tight).

Lastly, I'm calling a short term top in oil...Call me stupid, but I'm just begging to short it here...The general census among society is that oil is through the roof (which it is); but when something becomes this "public" (for lack of a better word) that's about when it changes direction..."Buy the rumor, sell the news"...