Today was a Fed Day. It's just about the only piece of news that I care about, because the Fed announcement occurs during market hours, with two hours left in the session. I'll still trade on a Fed Day, but I like to tighten my stops before the annoucement and not take any new trades going into the annoucement.

Volume was off and many bid/ask spreads stayed wide, so it made for a slow day of trading. We caught the big move in AVG out of a tight consolidation. A big reversal back down to the Central Pivot setup another trade out of a consolidation after lunch. The second trade went for a small loss.

I had two trades on during the Fed announcement -- one long and one short. I wasn't able to tighten the stops, but I'm okay keeping the positions open, particularly if I'm hedged with a long and a short.

AVG LONG 21.22 21.82 $0.60
AVG LONG 21.24 21.10 $(0.14)
FII LONG 29.01 29.09 $0.08 Exit end of day.
DISH SHORT 41.49 41.70 $(0.21) Exit end of day.

Total of $0.33 per share. Multiply average share size to estimate gross earnings. 1000 shares per trade would be $330 gross earnings for the day. $3.67 per share for the month. 1000 share per trade would be $3,670 gross earning for the month.

Wide-range bar setups for the next trading day. The day trade setup is only good for the upcoming trading session.

Entries, targets, and stops are based on the day's likely inflection points, and natural support and resistance. Avoid trade until bid/ask spread narrows.

Partial or unedited list of setups. Complete or edited list goes out by email. Subscribe to the distribution list here.

Bullish Long-Side Setups

AMT American Tower Corporation
CCI Crown Castle Intl
CTSH Cognizant Tech Solutions'A'
DG Dollar General Corporation
DHR Danaher Corp
EIX Edison Intl
FFIV F5 Networks
GLNG Golar Lng Ltd
LRCX Lam Research
MYGN Myriad Genetics
PETM Petsmart Inc
THRX Theravance Inc

Bearish Short-Side Setups

ANGI Angie's List Inc
AWAY HomeAway Inc
HFC HollyFrontier Corporation
RMD Resmed Inc
UAL United Continental Hldgs Inc

Dave Mecklenburg is Publisher of TigerSharkTrading.com.