Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Thursday, the 8th of November.
The market voted yesterday on the election results with the biggest one day drop for the year. Did yesterday's market action indicate a major change in direction or was it just a blip in a longer term bull market?
Regardless of the eventual outcome for the major markets, every investor needs some "Obama Insurance". Here is how "Obama Insurance" works:
Let's begin by looking at where we closed last Friday in the major markets and where we are trading now. Bear in mind these markets can change direction pretty quickly and we will really want to watch where we close this Friday (11/9).
| S&P 500 | Closed Last Friday at: 1,414.20 | Trading Today at: 1,392.00 |
| CRUDE OIL | Closed Last Friday at: 84.85 | Trading Today at: 84.78 |
| EURO | Closed Last Friday at: 1.2836 | Trading Today at: 1.2725 |
| GOLD | Closed Last Friday at: 1,677.63 | Trading Today at: 1,725.00 |
| COPPER | Closed Last Friday at: 3.4775 | Trading Today at: 3.4515 |
| SILVER | Closed Last Friday at: 30.85 | Trading Today at: 31.84 |
The markets are telling you that gold and silver are trading higher now than they were in the previous week. That in and of itself isn't enough to buy "Obama Insurance". The gold and silver charts currently indicate that the long-term monthly trend remains positive for both of these metals, while the intermediate-term weekly trend continues negative. Wait for the intermediate-term weekly Trade Triangle to turn green and then pile in and get some "Obama Insurance" because you are going to need it!!
The future promises to be exciting, one offering smart investors lots of investing and trading opportunities. I am comfortable saying that MarketClub's Trade Triangle technology, which has an amazing record, can help you maintain and grow your nest egg in the months and years ahead.
Five Stocks to Avoid Today:
Whole Foods Market (WFM)
McDonald's (MCD)
Concur Technologies (CNQR)
Nabors Industries (NBR)
Windstream (WIN)
Now, let's go to the markets and see what our Trade Triangles are indicating.
Have a great trading day,
Adam Hewison
Founder & President INO.com and co-founder of MarketClub.com.
Hi Adam,
Good points! "can help you maintain and grow your nest egg in the months and years ahead." 🙂
I heard that U.S. futures were up after the election and that the sour news in Europe was what brought the market down. So quick was the blame placed on the election that I believe some jumped on the bandwagon believing that was the problem. Soon all the talking heads were blaming Obama's re-election. We may not like his policies, but you know it didn't really matter who gets hired for his job, the only real fix for the economy would be costly. I think a compromise will be made and it will again put off a real fix and keep things running until the next time it has to be fixed and another bandaid gets applied.
remove cat and 321..the name surely fits.
Tough call. Jump in at 1800 or wait for 1400 when central banks can shore up their reserves.
Obama insurance. Really? How about plain old sour grapes insurance.
I think there are plenty of opportunities and the traders that sell off due to frustrated political allegience in spite of the positive underlying data, simply means more opportunities for contrarians like me.