MSFT + GOOG + FOMC = ?
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Let's Keep It Simple
Microsoft and Google reported after the bell today; GOOG is up nicely and MSFT down. MSFT numbers look fine to us as does the chart, so we anticipate any selloff to be temporary. Let's see how the indices are looking right now. FOMC tomorrow means all the pieces are going to get thrown up in the air - we'll see where they land.
As our paying members will be aware, in staff personal accounts we closed today out by hedging all our equity index ETF positions 1:1 long:short so that we can stare FOMC in the eye and react to it thereafter. Here's what we posted real-time in our Slack room before the close today.
By the way, if you're interested in hearing more about how we do our work, you might care to listen to me droning on about stuff in this podcast hosted by Seeking Alpha.
For our paying members only we walk through the shorter- and longer-term outlooks for the S&P500, the Nasdaq, the Dow and the Russell. If you've yet to sign up to the paid plan here, you can do so right from the link below.