Volatile Week

The markets had a nice follow through day on Thursday. That I think validates Wednesday's big up day and may be a bottom at least for the short term. Volatility will continue to be high due to the Fed meeting coming up and the hopes he will cut interest rates once again. We know that it will happen but the big question is by how much. If he doesn't cut enough, chances are that the markets will once again retest recent lows and may start a real defined down trend. Currently the markets are lightly oversold so there's room for some upside this coming week. My recent picks caved in to Friday's selling but are probably not done going up yet. WFR should have been sold due to it's morning gap up on Friday. When you have volatile markets, if a stock gaps up in price it's usually a sell signal for most traders. NITE and XLNX need more time to keep going but if this markets break to the down side, most stocks should be sold and patience to wait for better setups will be the key.