The QE3 Countdown Continues

The early action was a bit nervous and breadth is still slightly negative, but the market has inched into the green as expectations for the Fed announcement builds. Gold is showing a little relative strength, which is a sign that the market expects QE3 today. Banks and homebuilders are a little soft, but mostly it is very mixed action.

Stock-picking on Fed day is always a bit frustrating, as it can be all for naught the moment the news hits and everything is jerked around. Nonetheless, I'm looking at a few technical setups that I like. For example, ChipMOS Technologies (IMOS) has fantastic numbers and is supposed to grow earnings 123% to $2.34 in 2013. The stock has formed a little cup over the past month and is testing resistance. Volume is very light and the tech sector has been pressured by Intel (INTC), but with the solid numbers. The good chart has my interest....110 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

Read the full story and get access to the Real Money Pro trading floor.

There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.

Already a Subscriber? Please login.

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by Interactive Data Managed Solutions.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.