Today´s Market August 20, 2013

NASDAQ-100 (^NDX)

We experienced an upward trading environment, even though the market a retraced the last hour of trading  as we await tomorrow´s Fed Minutes.  On the energy front WTI fell to USD 104.95 per barrel  due to increased fears that the FED will start QE tapering ultimately slowing oil demand in the USA. Tomorrow´s economic release will enlighten traders as the FED´s tapering intentions. We could experience hefty losses if the FED were to announce their intentions to start dismounting QE. Stocks are still in overbought territory and could easily correct another 5%.  Up until now the FED has been able to control rates even though the US 10 year note has substantially increase, but if market participants were to undermine or lose confidence in QE purchases we could see higher interest rates, thus causing havoc in the markets.

Today´s Profit USD 875 (Portfolio Size: USD 25,000)

Visit Past Trades to review our history.

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