Fellow Traders: I tried a risky experiment that paid off and earned me my 2nd fastest Grand-A-Day ever: 3 trades in 15 minutes and a net of $1,088. Here is what I did. Today was Day 2 of a two-day FOMC meeting. The Federal Open Market Committee is the action arm of the Federal Reserve Board that makes and executes the Fed’s monetary policy. There is a press conference that occurs after the second-day meeting at around 11 am my time. I learned the hard way many years ago, that the intraday S&P tends to become wildly volatile for about an hour after the start of that press conference. For years I refrained from trading on “Fed” day, or at least made sure I was flat at the time of the press conference. But, as I learned more about Elliott Wave Theory, I discovered that there was an apparent method to the madness of this high-energy price movement. The post-meeting price spikes were not random, but rather a more volatile continuation of whatever EW pattern was already in progress. So I waited and watched all morning, without trading, until the first bearish spike appeared about one minute after 11am PDT. That bearish spike perfectly completed Wave 5 of a bearish impulse pattern that had been forming since 7 am PDT. That meant the next move should be a bullish Wave 1 or Wave A. Besides my reading of the EW pattern, I was aware that traditional wisdom has always dictated that a trader should “fade,” i.e., trade opposite to the first spike. So, I went long and instantly hit two targets. As soon as the rally stalled and started to reverse, I knew Wave 1 or Wave A was in. So, I reversed also and quickly hit another target. The pullback stopped right at the Pivot Point support zone, thus completing Wave 2 or Wave B. I reversed again and went long on Wave 3 or Wave C and hit all three targets. Total trades: 3; total elapsed time: 15 minutes; and, total net profit: $1,088. After the 3-target long, the market pulled back and eventually another good long opportunity presented itself that I couldn’t resist. It earned another 3 targets for a final net of $1,721.50. As for the EW count, my best guess is that the post-meeting volatility was Waves 1, 2 and 3. Check out the attached EW chart and judge for yourself. See you all in the TRADING ROOM tomorrow. Michael K. Bridges,President FORTUNE FORECASTER, INC. Futures and Forex Trading & Instruction