The major indices are all trading lower as stocks pulled back following yesterday's furious late-session surge on Wall Street. Leading chipmaker AMD (AMD) roared higher in early trading after reporting strong fourth-quarter earnings yesterday after the closing bell, which gave a lift to the tech sector and the Nasdaq ahead of this afternoon’s critical Fed rate decision. While a 0.25% rate hike seems all but certain this afternoon, the Central Bank’s monetary statement could cause turmoil across asset classes, with uncertainty concerning the Fed’s next steps being unusually high.
Our momentum trade went exactly how we expected and we have earned a quick 11% profit in just 1 week. We want to close the position and cash out before the Fed rate decision causes further volatility. We continue to capitalize the market swings for short term profits and long term growth.
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You may even consider doing a partial sale.
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Sell Pick No: 277
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