I took the long-trade in BE Aerospace (BEAV) at $40.75 as I was thrilled to find this gem of a setup with increasing volume levels over the past two days. Expect, once the FOMC statement comes out at 12:30pm eastern, for there to be increased volatility in the market. Traditionally, the Fed tries to provide incumbent presidents running for re-election with favorable monetary policy, so I figure the edge is likely on the bullish side heading into the announcement.
The posted short has a lot of potential too, but its really hard to get heavily bearish when the market seems so determined to continue its upward push.
Here’s the Lazy Trade Long & Short:
LONG: BE Aerospace (BEAV)
Plains Exploration & Production (PXP)
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