The Fed is the next likely headline risk for the market. 

No one knows which way the  market wants to go after the Fed announces its statement, and it is probably for that very reason that the market has stalled out over the past three trading session, and the ever so hot small caps are seeing some profit taking ahead of the FOMC Statement. 

I had the joy of getting knocked out of my Macy’s (M) trade that I took yesterday morning for a loss, which totally sucks, but that’s what stops are for and that is why I follow them – those unexplainable sell-offs that make little sense, yet wants to wreck havoc on anyone who chooses to be a bagholder. Well, not this trader. I’ll contain the loss and move forward to the next trade. 

And then you have the ultimate dunce when it comes to the financial markets and that is Jerome Powell. My gosh, if he’d only get rid of these pressers he has chosen to do after EVERY single FOMC Statement. These people are obsessed with hearing themselves talk and so you can expect, particularly in that blasted Q&A portion of the presser for the market to react to every little word that he says. Plus the press wants to ask him the kind of questions that will get a response out of the market – something they can go to dinner later that night and brag on themselves with their colleagues. 

Enough venting for now, I’ve put together a bearish watch-list to take a look at, and decide for yourselves what stocks you want to be shorting should Powell tank this market tomorrow. 

Take a look at the bearish watch-list below: