Hi Shoppers,

Well, it is finally here.

Today is the day of the Fed Meeting or the Federal Open Market Committee – FOMC – meeting.

How much is the rate hike going to be?

We all know they are raising rates, and the consensus seems to be a .75 bps.

Now there is so much more to it than just that.

Thank goodness we have Bill Griffo, our very own Fed Whisperer.

Griff is going to lay it all out for members of his Power Income Trader program today, after the announcement, at 4 p.m. ET

During the session, Griff will …

• Explain in detail what Powell said
• Forecast what he thinks Powell will do next
• Share two EXCLUSIVE trades to take advantage of a policy shift

But, again, it’s ONLY for members of Power Income Trader. Call 1-888-872-330 for options on how to get in.

Once you’ve done that, I have a new trade idea.

Hanging Around

I think there could possibly be a hanging man formed yesterday on the General Motors (TIcker: GM) chart:

GM has had a very nice rally from $31.27 on Oct. 14 to yesterday’s high of $40.10. 

That’s up 28%, just under $9, in two weeks.

I think GM is ready for a pull back.

The hanging man is found at the top of the uptrend to signal a change in trend.

The bulls have control running the stock up to a higher high and then the sellers arrive driving the stock down creating that long lower shadow. 

This is a picture of uncertainty.

Of course, I will wait for the confirmation this morning looking for a trade lower for at least an hour.

Looking at the options, I like the Nov. 11 expiration puts:

I like the 39 puts for just over a dollar.

I think GM can trade down to at least its 50 day moving average at $37.

Trade Review

I have to admit it. It is true. I was shaken out of my Delta Airlines (TIcker: DAL) puts.

I hate when that happens and it happens to the best of us.

I bailed on that mini rally on Monday. I was tricked.

Classic case of capital preservation and not looking at the individual trade itself.

The DAL chart still looks for it to trade lower, possibly to the the 50 day moving average which lines up with my support line at $31.50.

Stay sharp out there. Today could be crazy!

Thanks for Reading … See You Next Tuesday.

Licia Leslie