Pre FOMC announcement

In case your wondering what I am doing before the FOMC meeting I am setting myself up to short the financial sector by actually buying (long) symbol SKF. Symbol SKF when bought like a stock will increase 2x in price if the financial sectors go down. The moment I have a handle on how the market is viewing the FOMC statement and if it looks like the markets don't like it one bit then I'll buy SKF for a swing trade to take advantage of a possible sell off in the financial sectors again.

If on the other hand the FOMC comes out with something that surprises the markets and gives it a huge boost then I will buy UYG. Same as SKF however UYG pays 2x gains for the rise in the financial sectors.

RebelTrader swing trade ENG made it to the buy point this morning but with the pending FOMC statement I did not enter yet. I will wait until after to gauge that one. If you bought in already then don't worry about it. You followed the directions and that is fine. I'm just waiting for the smoke to clear from the FOMC before getting to busy with the "buy" button.