All eyes are on the FED rate decision this Tue. This is one of the most "controversial" Fed meeting in my opinion because I'm hearing a diverse group of camps out there. Some feel that Fed should keep rate @ 5.25%; some think 5.0% is expected; others are more aggressive and hope for 4.75%. Me thinks it doesn't matter. We as traders, are not here to speculate, but to trade along side the market. I would advise you to set a tight trail stop for swing positions or close them out prior to 2pm ET on Tue. I won't consider initiating any new swing positions until after mid week for the dust to settle. Yes, I'm risk adverse. Oh and by the way, there is a whole lot of speeches again by VIPs and did I tell you this Fri is also Options Expiration Day? One more thing: The big investment banks are also reporting earnings this week. Can it get any more exciting than that?
Mon: NY Empire State Index, Alan Greenspan Speaks (note: Greenspan will be making several public appearances to promote his recently published book), Treasury Sec Paulson speaks Notable Earnings: ADBE